Real estate: Report: Stock of industrial and logistic areas in Romania doubled in last 5 years

The industrial and logistic area market in Romania is crossing the best  stage in history, both for demand and offer, witnessing a doubling of total stock in the last 5 years, according to data of real estate consulting company Cushman & Wakefield Echinox.

The stock of industrial and logistic areas in Romania reached 3.61 million square meters at the end of the first semester, 2019, over 85% of them being located in  Bucharest, Timisoara, Ploiesti, Cluj Napoca and Pitesti, cities with solid connections in the national highway network.

“Bucharest has now a stock of about 1.8 million square meters, a share of 50% of total stock, followed by Timisoara (500,000 sq.m) Ploiesti (350,000 sq.m), Cluj Napoca (280,000 sq.m) and Pitesti (235,000 sq.m)”, a press release shows.

In the first 6 months of the year, new areas of 200,000 sq.m were delivered, Bucharest having a share of 57% of total (115,000 sq.m). New projects of 300,000 sq.m are expected in the second half of the year, developers maintaining the same expansion rate.

The non occupancy rate at national level is about 6%, the level of contractual rents being between 3.7 and 4.1 euro/sq/m/month, in a stable trend, Romania being one of the most competitive markets in Europe for occupation costs, according to the company. 

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