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Economic
The residential market showing resilience to the COVID-19 crisis
Tuesday, September 22, 2020
New housing has become more expensive in European countries over the last few years, including in 2019. Among the 23 countries participating in the Deloitte Property Index Study, 20 showed growth in prices of new dwellings and only three of them saw a price drop. Romania was among the former, with a price increase of 8.1 percent in the first quarter of the year. Experts in the residential real estate market expected the growth trend to continue in ...
Healthcare: PwC Romania: Limiting interaction means reconsidering market strategy and sales force in pharmaceutical industry
Tuesday, September 22, 2020
Limiting interaction means reconsidering market strategy and sales force in pharmaceutical industry and the number of medical representatives could drop by 10% to 30%, according to a PwC Romania press release. “Prior to six months ago most interactions between physicians and pharmaceutical companies were face to face and often involved trips of hundreds of kilometers. Social distancing and ...
Tourism: Over 4.2 million euros returned to customers affected by flight cancellations this year
Tuesday, September 22, 2020
Over 4.2 million euros were paid back to customers affected by flight cancellations this year, offering at the same time various solutions to recover the said amounts, according to a statistic made by one of the online travel agencies in Romania. According to Vola.ro, during the emergency state, about 95% of their customers' flights were canceled, 41,739 customers being affected by these changes. Of ...
Infrastructure: Maritime freight transport, down 4.9% in first half of 2020
Tuesday, September 22, 2020
Maritime port freight recorded a decrease of 4.9% in the first half of 2020 compared to the similar period of 2019, in the context in which there was an increase of 10.7% in goods loaded and a decrease of 17.7% in those unloaded, according to data centralized by the National Institute of Statistics (INS).Goods loaded and unloaded in ports where seagoing vessels are operated totaled 23.099 million tonnes in the first half-year, of which 10.934 million tonnes ...
Real Estate: Consultants: Romanian Investment Market shows resilience in the face of the pandemic
Tuesday, September 15, 2020
The recent transactions closed in the last weeks, with a total value of 400 million euros, demonstrate that the investment market in Romania remains strong and attractive even in the Covid-19 pandemic period, Romania no longer being just seen as just a fringe market of Central Europe, according to Cushman & Wakefield Echinox real estate consultants. The joint-venture of Resolution Property and Zeus Capital Management recently acquired ...
Demand on real estate market increases by 15% in August
Tuesday, September 15, 2020
Demand on the real estate market increased by 15% in August compared to January, after a sharp decrease of almost 70% at the end of March, in the context of the Covid-19 epidemic, and Cluj-Napoca still ranks first in a price list, according to a press release of a specialized company.After a promising year start, with an 11% accelerated growth in the first quarter in terms of demand dynamics compared to the same period of the previous year, market ...
Resolution Property and Zeus Capital Management acquired Floreasca Park in Bucharest
Tuesday, September 15, 2020
Resolution Property and Zeus Capital Management have recently acquired Floreasca Park, a ca. 40,000 m2 office campus in the heart of Bucharest. The property was sold to the joint venture by a fund managed by GLL Real Estate Partners GMBH (a member of Macquarie Group). Floreasca Park is Resolution’s first investment in Romania and Zeus’ fifth investment in the Bucharest real estate market, and represents the first acquisition of ...
Tourism: The capacity of touristic accommodation was 5.9% lower in Q1 than the same period of 2019
Tuesday, September 15, 2020
The touristic accommodation capacity was in Q1 2020 by 54.9% lower than in the similar period of last year, according to the centralised data of INS.In the first six months of 2020, hotels had the highest share of 60.2% as a total of touristic accommodation functioning, being followed by agro-touristic pensions (13.1%), touristic pensions (12%), touristic villas (4%),hotels (3.8%),motels (3.2%) and the rest of structures with touristic accommodation ...
Agriculture: European Commission approves 7.4 million-euro Romanian scheme to support bovine breeding sector
Tuesday, September 15, 2020
The European Commission on Wednesday approved a 7.4 million-euro (approximately 35.7 million lei) Romanian scheme to support companies operating in the bovine breeding sector that are affected by the coronavirus outbreak.According to a press statement released by the commission, the scheme was approved under the State aid Temporary Framework. Under the scheme, public support will be provided in the form of direct grants.The aim of the scheme is ...
Infrastructure : Railway line connecting train station to Henri Coanda International Airport is 97% completed
Tuesday, September 15, 2020
The railway line Gara de Nord [North Train Station] - Henri Coanda International Airport is 97% completed, CFR SA announced on Wednesday.According to a company's release, the new railway to the airport starts from the connection area (former Halta Odaile) on about 600 meters, the route continues with a consolidation area of 900 meters in length and a viaduct of 1.52 kilometers, which crosses National Road 1, to the new passenger station, from the Henri ...
Wizz Air announced new route from Cluj-Napoca to Liverpool
Tuesday, September 15, 2020
Wizz Air has announced a new route from Cluj-Napoca to Liverpool John Lennon starting from 23 October 2020. At the same time, already announced in June, flights from Bac?u to London Luton, will commence earlier, on 1 October with 5 weekly flights and will increase to daily flights after the base opening on 29 October. This is one of 12 announced routes from the newest WIZZ base in Bac?u, which will be officially opened on 29 ...
Trade: The e-commerce sector grew by 50% of the number of orders in pandemic period
Tuesday, September 15, 2020
The pandemics redefined the sector of e-commerce,leading to a quick growth of the number of orders by 50% and value by 64%, dynamics which shows growth in six months similar to a period of three years in a normal context, according to the data of MerchantPro, local platform SaaS of eCommerce. The starting period of the crisis, represented by the months of restrictions and social distancing led to bigger increases but the positive ...
Romanians have been buying more, choosing the lower price segment in H1
Tuesday, September 15, 2020
The consumer goods market saw a 12 per cent increase in the first half of the year compared with the first half of 2019, in the context in which the Romanian households bought by 9 per cent more in terms of volume, choosing the lower price segment, according to a survey of GfK made public on Monday."The health crisis and, implicitly, the restrictions in recent months have led to changes in the buyer's behaviour, so that the frequency of visits to the store ...
Infrastructure: Eurostat: Netherlands, Romania on 1st positions in EU in terms of waterway transport in domestic freight transport
Tuesday, September 8, 2020
Inland waterway transport accounted in 2018 for 6% of domestic freight transport in the European Union, and the member states where this mode of transport has the largest share are the Netherlands (43.2%) and Romania (27.1%), according to data published on Friday by Eurostat.Road transport is by far the main mode of freight transport in the EU, accounting for three quarters (75.3%) of domestic freight transport, followed by rail (18.7%) and waterway (6%). ...
Agriculture : Commission approves €47.4 million Romanian schemes to support companies active in the pig and poultry breeding sectors
Tuesday, September 8, 2020
The European Commission has approved two Romanian schemes, with a total budget of €47.4 million (approximately RON 229.4 million), to support companies active in the pig and poultry breeding sectors that are affected by the coronavirus outbreak. The schemes were approved under the State ...
Gov't approves framework through which young farmers can obtain 50 ha from state by lease
Tuesday, September 8, 2020
On last Thursday, the Government approved the draft emergency ordinance for the creation of the legal framework through which the young farmers will be able to obtain, through lease, land from the state of maximum 50 hectares."On the supplementary list of the Government's meeting, a draft emergency ordinance for the implementation of a program included in the National Investment and Economic Recovery Plan of the Orban Government; is the draft for the ...
Tourism: Fewer tourist arrivals in Bucharest in first semester
Tuesday, September 8, 2020
The number of tourist arrivals in Bucharest dropped three times in the first semester of the ongoing year, compared to the same period of 2019, to 324,440 arrivals, in the context of the Covid 19 pandemic. According to centralized data of the National Statistics Institute, 122,768 arrivals were recorded in January, 132,455 in February, 38,299 in March, 2,925 in April, 5,537 in May and 22,456 in June. ...
Tourists' arrivals, down 44.4% in July, overnight stays decrease 44.7%
Tuesday, September 8, 2020
- Compared to the corresponding month of the previous year, the arrivals in the establishments of tourists’ reception with functions of tourists’ accommodation decreased by 44.4%, while the overnight stays decreased by 44.7% in July 2020. - Compared to July 2019, in July 2020 customs registered a decrease in the arrivals of foreign visitors of 69.0 % and a decrease of 63.8% in the departures abroad of the Romanian ...
Trade: GfK: Evolution of sales of technical consumer goods in Romania, in the context of the Covid-19 Crisis
Tuesday, September 8, 2020
The Romanian Consumer Goods (TCG) market, according to data audited by GfK Romania, continued the increasing trend in the second quarter of 2020. The increase in sales value was 5.2 % compared to the same period of 2019 and was determined by the growth of the IT , Office Equipment and Small Appliances sectors. In the context of the Covid-19 Crisis in the global TCG market, IT, Office Equipment and Small Appliances were the only sectors which ...
Real estate: Residential market in Transylvania goes through best moments in last 30 years
Tuesday, September 8, 2020
Cluj Napoca, Sibiu and Oradea, the largest three regional residential markets in Transylvania registered in 2019 new record commissionings with increases between 6% and over 95%, according to calculations of the real estate consulting company SVN Romania. The report shows that the most spectacular evolution was recorded in Oradea, where the level of houses commissioned in 2019 doubled compared to the previous year, to 2,161 housing ...