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Bucharest is one of the European cities with the lowest housing prices

Tuesday, March 19, 2024

Bucharest ranks among the major European cities with the lowest housing prices and the highest affordability ratios, according to data from the Cushman & Wakefield Echinox real estate consultancy company.   The expected increases in wages as a result of the positive economic developments and also the easing of financing conditions are likely to favor house prices’ increases, a trend which will probably start manifesting itself in a more ...

Schrack Technik invests €15M in new office & logistic hub near Bucharest

Tuesday, March 19, 2024

Schrack Technik Romania, the subsidiary of the Austrian group Schrack Technik GMBH, a player in the low-voltage electrical equipment market, has kicked off the investment of over 15,000,000 Euros in the construction of a new logistics and office center, the company announced.   The project involves a warehouse of 5,500 m.p. (with the possibility of storing more than 5,000 pallets) and an office space of 3,500 m.p., level P+2. The buildings will be ...

Infrastructure: Romania OKS $1.2B Constanta Port expansion

Tuesday, March 19, 2024

The Government of Romania has given its approval for an important infrastructure project aimed at enhancing the southern sector of Constanta Port on the Black Sea. This decision was made following a proposal by the Ministry of Transport to develop new terminals, access roads and utilities in the region.   According to Transport Minister Sorin Grindeanu, the project is estimated to cost a total of around €1.12 billion ($1.22 ...

Greece-Bulgaria-Romania trilateral meeting on establishing transport corridor

Tuesday, March 19, 2024

Ministers from Greece, Bulgaria and Romania held a working meeting in Sofia on Thursday to discuss the development of a transport corridor which will start from the port of Alexandroupolis and end in ports of the Black Sea and the trade routes of the Danube, through Bulgarian https://www.ekathimerini.com/ ...

Cars: ACAROM: 2.6% drop of new cars registrations in Romania in first two months, 2024

Tuesday, March 12, 2024

Registrations of new cars in Romania dropped by 2.6% in the first two months of the year, compared to the same period of 2023, according to centralized data of DRPCIV, quoted by the Association of Automobile Builders in Romania (ACAROM).   According to the source, in February 2024, new car registrations dropped by 8.92% against the same period of 2023, to a volume of 11,339 ...

Electric cars in Romania register growth of 26%, reaching market share of 24% in 2023, consultants say

Tuesday, March 12, 2024

Electric cars in Romania registered a 26% increase last year, reaching a market share of 24% in 2023, and the use of uniform data practices is essential to increase user satisfaction and to encourage widespread adoption, said Mihai Draghici, Partner, Consultancy, EY Romania."The future of e-mobility depends on sharing and standardizing data collaboratively, encouraging interoperability and value creation. With over 75 million electric vehicles designed in ...

Real Estate: Study: One out of three Romanians living in urban environment rents or shares a home

Tuesday, March 12, 2024

One out of three Romanians living in the urban environment rents or shares a home that they do not own together with their parents, relatives or friends, but the interest in purchasing a property remains high, according to a recent study conducted by Unlock Market Research for Colliers."Romania remains the European country with the most owners of houses and apartments, according to official statistics, and although the interest in purchasing a property ...

Trade: Romanians are Europeans with most online purchases abroad

Tuesday, March 12, 2024

Eight out of ten Romanians (81%),prefer to buy online to save time, over the EU average, while 70% say they purchased from abroad on the Internet, at least once, according to a barometer made by a courrier company from the local market.   At general level, more than half of Romanian e-shoppers (54%) are responsible for 90% of all electronic purchases made last year in EU, with an average of 14.7 online ...

Eurostat: Volume of retail trade down by 1.0% in the euro area and by 0.6% in the EU compared with January 2023

Tuesday, March 12, 2024

Overview   In January 2024, compared with December 2023, the seasonally adjusted retail trade volume increased by 0.1% în the euro area and by 0.3% in the EU, according to first estimates from Eurostat, the statistical office of the European ...

Turnover in retail trade, up by 6.6% in January 2024

Tuesday, March 12, 2024

The volume of turnover in retail trade (with the exception of trade in motor vehicles and motorcycles), in January 2024, increased, compared to January 2023, both as a gross series by 6.6%, and as a series adjusted according to the number of working days and seasonality by 5.1%, show the data of the National Statistics Institute, published on last Wednesday.The evolution, on a gross basis, from January, was generated by the increases recorded in the sales of ...

Tourism: Italy, Greece or Spain holiday destinations preferred by Romanian women

Tuesday, March 12, 2024

Romanian women who book trips on travel platfoms prefer to spend their holidays in Italy, Greece or Spain, according to an analysis made by a travel website.   According to data centralized by eSky, Italy is preferred by women for at least one day trips abroad, with a share of 40% of bookings in the top. Most Romanian women choose to visit Rome on an average trip of seven days, but for longer sojourn they ...

Mondrian Bucharest Lifestyle Hotel to open in Bucharest

Tuesday, March 12, 2024

Ennismore, the lifestyle and leisure hospitality company, and One United Properties, the green investor and developer of residential, mixed-use, and office real estate in Romania, have signed a partnership for the opening of a Mondrian hotel in Bucharest.   The signing ceremony took place on March 7th at One Tower, in a festive and elegant setting attended by Victor C?pitanu, co-founder and co-CEO of ...

Infrastructure: Carpatica Feroviar set up: We want a fresh start for railway gods transport in Romania

Tuesday, March 12, 2024

Carpatica Feroviar, which will be in operation as of 2025 according to plans, represents a fresh start for railway goods transport in Romania, because a company with a debt over 4 billion lei, as CFR Marfa, cannot develop, said Ionut Cristian Savoiu, secretary of state in the Ministry of Transports and Infrastructure, on Thursday.   “The new company starts with a full state capital. We had talks on ...

Real Estate: COFACE: CHALLENGING TIMES FOR HOMEBUILDERS AND REAL ESTATE COMPANIES

Tuesday, March 5, 2024

Construction and real estate sectors are among the most cyclical sectors. Sensitive to changes in the labour market, prices in commodities and, first and foremost, the interest rate environment and accessibility of credit, they are currently under strain. And things are unlikely to get any better in 2024.   Homebuilders are seeing some fractures   The residential market is facing a double constraint, on both supply and ...

Colliers: Real estate investment market slowed down its activity in 2023, decreasing by more than half

Tuesday, March 5, 2024

The Romanian investment market recorded transactions of around 476 million euros last year, down by more than half over 2022’s cycle high of 1.25 billion euros, according to the 2023 Annual Report released by Colliers.   The market volume was strongly boosted by the sale of Mitiska REIMs 25 retail assets portfolio to a new entry, British fund M Core, for 219 million euro. This soft result is not at all surprising to Colliers’ consultants, who estimated since ...

Healthcare: Survey : “Diet of the year 2023”

Tuesday, March 5, 2024

Obesity is a major public health problem worldwide and according to statistics more than 4 billion people could be overweight or obese in the next 12 years, compared to more than 2.6 billion in 2020.   Healthy and normal weight people can become obese in the most short time if they do not keep their eating habits healthy. Obesity, a harsh reality of the modern lifestyle, has been associated with various health complications, such as type 2 ...

Obesity prevalence in Romania is 36% 

Tuesday, March 5, 2024

   The current prevalence of obesity in Romania is 36%, Health Ministry's cardiology committee head Dragos Vinereanu said on Monday.He had an intervention at the conference "Obesity - a public health problem: information, awareness, medical education," organised at the "Carol Davila" University of Medicine and Pharmacy (UMF).According to the specialist, in 10% of cases it is severe obesity, type II, and morbid obesity represents 3% of the ...

WHO donates medical supplies worth over EUR 400,000 to Romania's emergency management inspectorate

Tuesday, March 5, 2024

Romania's General Emergency Management Inspectorate (IGSU) received on Friday, from the World Health Organization (WHO), medical supplies and equipment worth over EUR 400,000."These are medical supplies worth in excess of EUR 400.000, medical equipment that can be distributed at any time where it is needed, where there is pressure, including emergency supplies and equipment to transport newborns as well as other protective supplies and supplies that are needed particularly ...

Tourism : Tourist accommodation arrivals down 2 pct in the first month of this year

Tuesday, March 5, 2024

Arrivals registered in tourist accommodation facilities in January 2024, including apartments and rooms for rent, totalled 768,700 people, down 2% compared to January 2023, according to data published Monday by the National Institute of Statistics (INS).Out of the total number of arrivals, in January 2024, arrivals of Romanian tourists accounted for 84.4% and those of foreign tourists for 15.6%.As for overnight stays registered in tourist accommodation ...

Cushman & Wakefield : Bucharest Hotel Market Continues Post-Pandemic Recovery

Tuesday, March 5, 2024

While the average hotel occupancy level across the CEE-6 capitals – including Bucharest, Bratislava, Budapest, Prague, Sofia, and Warsaw – in 2023 lagged 2019 by 9%, the ADR surpassed it by 23%, resulting in a 12% RevPAR growth, according to data from the real estate consulting company Cushman & Wakefield.   The strongest increase was recorded in Warsaw and Budapest. Moreover, despite the lingering impact of the pandemic, the hotel ...

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