DTZ: Romania To See Realty Transactions Worth EUR550M In 2012
The overall value of real estate transactions with grow by up to 10% next year, to EUR500-550 million, as banks liquidate non-performing assets, according to data supplied by realty company DTZ Echinox.
The assets liquidated by banks are expected to have an overall value of EUR300 million.
“For 2012 we are expecting a moderate increase in the volume of realty transactions, to EUR500-550 million, representing a 10% increase on our forecast for 2011. The estimation is based on what banks will liquidate in order to recapitalize,” said Cristian Ustinescu, head of capital markets at DTZ Echinox.
The difference between the total amount traded in liquidations and the overall estimated value will come from typical transactions and alternative transactions, such as agriculture, forests and green energy projects, Ustinescu added.
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