People of Cushman & Wakefield Echinox
In Bucharest throughout 2015 the land market activity for commercial development was strong. A wide range of investors were active in acquiring land plots suitable for a wide diversity of commercial developments. DTZ Research tracked over 15 relevant transactions concluded last year, with a total land area of ~ 45 Ha and a cumulated price of € 90 million.
Compared with 2014, which was the best post-crisis year for the land market in Bucharest, 2015 saw the total transactional value drop by 55%, while the total land area transacted was lower by 16%. This was mainly because in 2015 there were no land plots acquired for mixed developments – offices and retail. Also, the number of deals involving land plots suitable for office developments were scarce.
