Colliers cautiously optimistic about RO real estate market as global risks are rising

The Bucharest office market returned to pre-pandemic levels (in terms of new demand), the industrial and logistics spaces are going from strength to strength, while the investment market could reach its highest level in more than 10 years, according to Colliers’ Mid-Year Report for 2022. The current backdrop, however, has become much more challenging, leading to fears of a widespread economic slowdown among Western countries, which would hurt Romania’s medium-term outlook and, in turn, the outlook for the local real estate market. “With results as good as we have had for the last few quarters, plus a solid pipeline of deals on all major real estate sectors, we are still not overtly enthusiastic for Romania. In fact, we are leaning towards a cautiously optimistic approach, as global risks are higher than they have ever been in the last years and a small and open economy like Romania cannot do anything more than swim with the tide, whichever way it goes”, says Laurentiu Lazar, Managing Partner for Colliers Romania.