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Real Estate: Luxury real estate in the Pipera area, preferred by foreigners due to low costs and proximity to international schools in the capital
Tuesday, July 25, 2023
80% of buyers in the first phase of the Bonton Luxury Villas residential project in Pipera are foreigners. The share of end buyers versus investors is 70% - 30%. The project is in the second phase of development, of 30 villas, which are in the final stages of completion The luxury real estate ...
Mortgage lending drops, amid rising housing prices in major cities of Romania
Tuesday, July 25, 2023
Housing in major cities of Romania continued to rise this year, and mortgage lending fell and no longer provided support for transactions, according to financial consultants with Kiwi Finance.Kiwi Finance ended 2022 with a record level of intermediated loans, worth EUR 400 million, up 15 pct, almost five times faster than lending to the population in the banking system as a whole, in conditions of business of about RON 45 million. Of the total loans intermediated by Kiwi ...
Cars: Romania ranks 14th in EU for new car registrations, in the first semester of 2023
Tuesday, July 25, 2023
Romania ranked 14th in the European Union (EU) in terms of new car registrations, in the first semester of 2023, with a volume of 73,645 units, an increase of 25.4% compared to the same period of the previous year, shows the statistics of the Romanian Automobile Manufacturers Association (ACAROM), based on the data of the European Automobile Manufacturers Association (ACEA).According to the cited source, in June of this year, new car registrations in the EU increased by ...
Second hand cars sold in Romania more expensive by 17%
Tuesday, July 25, 2023
The average sale price of second hand cars, have gone up this year by 17% in Romania, compared to the 2022 situation, to 12,800 euros, a market analysis released on Wedneday by an online sales platform shows. According to data centralised by Instant.ro, Volkswagen, BMW, Audi, Renault and Mercedes, followed by Ford and Skoda are second hand car makes Romanians prefer. In 2023 the buyers' interest focused on gasoline cars, to the detriment of diesel ...
Tourism : Transilvania Investments sells Coroana-Postavaru Hotel for over EUR 9 M
Tuesday, July 25, 2023
Aro Palace SA announces the completion of the sale procedure of Coroana-Postavaru Hotel, informs the company’s majority shareholder, the investment fund Transilvania Investments. The sales contract was signed on Friday 14 July with the winning company of the public tender. The final price paid by Elevate Properties SRL is EUR 9,367,000. “The completion of the sale process of Coroana Hotel allows us ...
New 4-star hotel inaugurated in Sovata Spa Resort
Tuesday, July 25, 2023
A new luxury hotel was inaugurated in Sovata spa resort, in Mures county, at the end of last week. Hotel Crystal has 4 stars and is a project initiated in 2021 from the need to raise to a new level the tourist offer of the resort which seems to be reborn from its own ashes after being ignored for a long time. Part of the financing was supported by the Pro Economica Alapítvány Foundation.The new hotel, Hotel Crystal, is located in the center of Sovata resort, ...
Real Estate: Colliers: Romanian real estate market concludes a favorable first half of the year
Tuesday, July 18, 2023
Consistent with the economic deceleration, the Romanian real estate market is displaying signs of moderation across various sectors, although the overall performance remains robust, as outlined by experts from Colliers Romania in their first-half outlook. The logistics and industrial market offers the most promising results, with leasing activity increasing by about a quarter compared to the same period last year. And in ...
Analysis: The most popular months for sales or rentals
Tuesday, July 18, 2023
The most popular months for apartment sales are January and August, while renters tend to search for properties in August and September. The analysis conducted by Storia.ro, which presents the most popular months for sales and rentals, took into account the number of contacts per listing in a given month (interactions between those searching and those posting listings on the platform) over the past three years. Therefore, 100 is the average number of contacts per listing in a ...
Agriculture: Jan - May milk collections advance 13.2 pct YoY
Tuesday, July 18, 2023
The amount of cow's milk collected by processing units over January - May 2023 stood at 512,744 tons, up 13.2 percent year-over-year, the National Institute of Statistics (INS) announced on Friday.Cheeses recorded the biggest production increase (+1.6 percent), while fermented milk products (yogurt, drinking yogurt, buttermilk and others) registered the biggest decrease (-9.4 percent).Raw milk imports decreased by 38.3 percent over January 1 - ...
Infrastructure: CFR SA announces losses of over 955 million lei for 2023, almost 910% higher than in 2022
Tuesday, July 18, 2023
CFR SA, the administrator of railway infrastructure, estimates losses of 955.436 million lei for the ongoing year, 909% higher than the one recorded in 2022, according to the motivation accompanying the draft Government Decision approving the income and expense budget for 2023 of the National Railway Company CFR SA, subordinated to the Ministry of Transports and Infrastructure (MTI). “The gross ...
Modernisation works of Braila Port, worth over 24 million euros, are 70% completed
Tuesday, July 18, 2023
The modernisation works of the Braila Port, carried out as part of an European funded project, worth over 24 million euros, are 70% completed, the general director of the national company "Administration of the Danube Maritime Ports" SA Galati, Marcela Costea informs on last Tuesday."The general objective of the project is the modernisation and development of the Braila Port in order to provide optimal conditions for the river transport of goods, with the ...
HiSky expects to reach one million passengers in 2023, by September
Tuesday, July 18, 2023
* The company secures 4th place in Romania, by market share HiSky continues to break records in the growth rate of passenger numbers. 537 thousand people flew with HiSky in 2023, according to the traffic data, reported after the first two quarters. By comparison, in the first six months of the previous year, the company recorded 194 thousand passengers. According to estimates based on the ...
Tourism: Survey: Almost 39 pct of Romanians say they will not go on holiday this summer
Tuesday, July 18, 2023
Approximately 39% of Romanians say they will not go on holiday at all this summer, and of those who will, more than 73% will spend their summer holidays in Romania, according to a survey conducted by CEC Bank in partnership with the banking comparison tool FinZoom.ro.When it comes to the budget allocated this year for the holiday - about 10% of respondents mentioned that they will allocate less than 1,000 RON, almost 25% answered between 1,000 - 3,000 RON, ...
Trade: The beer market in Romania decreased by 9%, after five months of 2023
Tuesday, July 18, 2023
The Romanian beer market reports a 9% decrease in the first five months of 2023 compared to the same period of the previous year. The results are part of the decreasing trend starting last year and continuing to accelerate in 2022. This market fall is attributed to a series of factors. Among the most important are the decline in purchasing power and the difficult economic context, given the acceleration ...
Tourism : Number of foreign visitors to Romania up 13% in May; Romanians' departures abroad up 2.1%
Tuesday, July 11, 2023
In May 2023 compared to May 2022, customs registered an increase in the arrivals of foreign visitors of 13.0% to 1.197 million and an increase of 2.1% to 1.605 million in the departures abroad of the Romanian visitors, according to the data of the National Institute of Statistics (INS) published on Tuesday.Moreover, in May 2023 compared to May 2022, the arrivals in the establishments of tourists' reception with functions of tourists' accommodation, including ...
Trade: Study: The Electronics category dominates the Romanian e-Commerce market, followed by Fashion
Tuesday, July 11, 2023
Aqurate, a SaaS platform based on Artificial Intelligence (AI), launches Aqurate Map 2023, a study now in its third edition, which analyzes the competitiveness of Romanian eCommerce stores, and according to the recorded data, the Electronics category dominates the market authoritatively, with 45 million monthly visits, at the end of ...
Electro-IT market advances 4.6pct in Q1 2023
Tuesday, July 11, 2023
Romania's electro-IT market posted a 4.6% growth in Q1 2023 when stated in US dollars, mainly on increases in telecom and small household appliances sectors, according to the GfK study "Inflation, innovation and insight: Carving out growth for retailers in 2023."The study indicates that during the COVID-19 pandemic, consumer spending decreased, and last year inflation and high energy prices led consumers to keep their savings. This led to a negative development in retailers ...
Agriculture: Poultry meat production advances by 9.3 pct this May
Tuesday, July 11, 2023
Romania's poultry meat production was 9.3 percent higher in May 2023 compared to the same period last year, and almost 19 percent up from April 2023, totaling 48,775 tons, the National Institute of Statistics (INS) informs.The number of fowl slaughtered in May was 28,898 million, up from 26.359 million in May 2022 and also higher than the 23.886 million registered in April 2023.The beef production totaled 6,584 tons in May, 0.9 percent down year-over-year from ...
Infrastructure: AirConnect to operate flights to and from the Bucharest Baneasa International Airport
Tuesday, July 11, 2023
The Romanian regional airline AirConnect will operate, as of July 24, regular flights from the Bucharest Baneasa - Aurel Vlaicu International Airport, the National Bucharest Airports Company (CNAB) informs on Thursday."Starting on July 24, 2023, AirConnect will move its operations to the Baneasa Airport, to offer customers access to the capital's newest terminal, with reduced time for all check-in formalities, security control, boarding and which is only a few minutes away ...
Wizz Air transported 77 million passengers to and from Romania
Tuesday, July 11, 2023
The Wizz Air airline transported 77 million passengers to and from Romania, a number four times higher than the population of Romania, according to a press release sent on Friday."Carrying a volume of passengers four times higher than the population of Romania, the airline firmly maintains its position as the leading carrier in the country, contributing to the development of the tourism sector in Romania and creating more than 57,000 jobs in the associated industries in the ...