Crosspoint Real Estate announces that it has exceeded the estimates of land transactions by over 50% in 2021. “If at the beginning of last year we estimated sales in excess of EUR 100 million, in the end the team’s work and customer interest helped us to close the year with transactions of over 165 million Eur”, says Ionut Stan, Associate Director, Land Development, Crosspoint Real Estate.
The top of the cities that generated transactions, according to Catalin Gavrila, Partner, Crosspoint Real Estate, includes cities such as Cluj – Napoca, Constanta, Oradea, Craiova. In Bucharest, semi-central and peripheral areas were sought, in these areas large transactions took place – most of them former industrial enterprises and suburban areas – areas requested due to the need to expand the capital, but also new remote work trends, which came with the pandemic.
Most of these acquisitions have the following development goals: residential, retail, Industrial, Office.
Among the largest transactions concluded are: 12 h in Sector 6 in Bucharest – for residential purposes – development with over 3,500 units, a project that means an entire urban regeneration of the area; land with authorization in the Carol Park area – for residential purposes – large project, with over 600 units; 28 h – a retail scheme designed and traded on the site of the former IMBG platform.
“Out of the total of 14 transactions made in 2021 by our land team, over 70% of investors were local, which demonstrates the increase in the competitiveness of local capital“, says Ionut Stan, Associate Director, Land Development, Crosspoint Real Estate.
Prices will continue to rise at the same rate, exceeding the inflation rate – already quite high.
Transactions in Bucharest will be increasingly rare, due to the blockage generated by the local administration.
Our focus and that of the investors will be in the secondary cities and in the suburban areas of Bucharest.
Another trend is the growing desire of investors and developers to develop projects in tourist areas (mountain, sea).