The value of real estate transactions in Romania could rise to 400 000 000-450 000 000 this year from 348 000 000 in 2011, according to Romanian real estate consultancy DTZ Echinox.
"Our [new] estimation is based on the assumption that banks will bring the assets of non-performing loans to the market in their effort to recapitalize", – the consultancy of DTZ Echinox company said.
The value of real estate transactions in Romania reached 99 000 000 in January – March, up by 189% on the quarter but down 50% on the year. "In light of the recent turmoil on the local political stage, we are witnessing increased circumspection from the large investors in regards to their acquisition plans in Romania", DTZ Echinox Investment director Cristian Ustinescu said in the statement.
Some 67% of the investment in the first quarter came from Austria, followed by investors from the UK with a 12% share. Romanian investors accounted for 9% of total.
Source: http://www.balkans.com/open-news.php?uniquenumber=145460