Bucharest, January 2023: The Embassy of the Saudi Arabia in Bucharest relocates its Official Headquarters in an iconic building in Dorobanti area, one of the exclusive locations in the city, benefitting from an easy accessibility and a great exposure, very important features for a Diplomatic Mission, in a transaction advised by the real estate consultancy company Cushman & Wakefield Echinox.

The Little Genius private school rented a historical monument villa located on Kiseleff Boulevard in Bucharest in order to meet the social distancing requirements imposed by the authorities, the transaction being intermediated by Cushman & Wakefield Echinox. Raluca Plavita, Director Residential Agency declared: “In the midst of the pandemic, certain business segments stand out and continue to grow, while adapting to the new safety operation conditions. For the private education sector there are opportunities for expansion and development and although such locations are very rare, we managed to find a premium property suitable for its desired purpose, in a unique location with a spectacular garden.”

During Ziarul Financiar Videoconference ZF Office & Residential 2020, Mihaela Pană, Partner Residential Agency Cushman & Wakefield Echinox and speaker at the event, declared that the COVID-19 pandemic will not affect negatively the real estate prices, and the developers will launch projects that will include new facilities."There is a balance between the current offer and demand and the context will not adjust the prices. The trends haven't changed, the location remains the most important factor in the purchase decision, but it is doubled by these benefits, that are seen in the price, for example, 5,000-6,000 - 7,000 euros per square meter."

The sales of apartments in the upper segment of the residential market are keeping pace, and they are not affected by the crisis caused by the Covid-19 pandemic. The current situation differs from the financial one in 2009, that hit the real estate sector strongly, as the market is now much more settled."Construction sites didn't stop, which took many by surprise; new projects are announced and we cannot say that the effects of the quarantine have negatively affected the demand for acquisitions in this segment. On the contrary, in the last two-three weeks there have been constant requests, site visits and advanced discussions, and the on-going transactions have been completed ", declared Raluca Plaviţa, Director Residential Agency Cushman & Wakefield Echinox Residential Agency.Rea

The luxury residential segment proves to be currently less affected by the COVID-19 pandemic, was one of the conclusions of the videoconference organized by Cushman and Wakefield Echinox and the law firm Dentons Romania.During the event, important players participated at the debate of a series of 10 topics that will impact the development and transactional activity of the residential sector. The list of speakers also included: Cristi Moga, Head of Research Cushman & Wakefield Echinox, Perry Zizzi, Managing Partner Dentons, Beatrice Dumitrașcu, VP Residential Sales One United Properties, Alex Skouras, Managing Partner Alesonor, Ovidiu Șandor, CEO Mulberry Development and Romulus Andrei, Director Structured Finance Banca Transilvania.Read more on: www.imobiliare.ro/imoexpert/

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The premium residential market is an exclusive niche in terms of properties and consultants who can offer this type of real estate services. The most sophisticated and sometimes even extravagant demands involve both residencies with special exposure and prestige for ambassadors or diplomatic missions, and luxurious villas, apartments or penthouses located in Kiseleff, Aviatorilor, Dorobanți which are destined to private clients. Read the entire interview: www.luxury.ro

“We could see a supply and demand imbalance next year, because the northern area of Bucharest is invaded by many large residential projects”, declared Mihaela Pană, Partner Residential Agency, Cushman & Wakefield Echinox. “Buyers pay a lot of attention to the workplace proximity. The selection criteria have changed a bit because the city has developed a lot and the infrastructure is not keeping up the pace. Time is very precious. If in 2018 the number of residences delivered was of 500 units in district 1 and 2, in 2019-2020 there will be 4,000 units, on Barbu Văcărescu-Aviaţiei and on Expoziţiei Boulevard. What will be the impact of so many apartments delivered on the market? Definitely the buyer either the tenant will look not only at the quality of the construction, but also

Looking to Buy, Lease or Sell an exclusive property in the North area of Bucharest? Our Residential Agency experts can offer on request, a selection of private and off-market properties. Invest in your future home comfort and style! “We work alongside embassies, state institutions, multi-national companies and private clients. We strive to provide tailor-made solutions for complex requirements and to build long term partnerships with our clients. Our advice is valued by clients looking for high level services. It’s not just about the years of experience, it’s about the results we deliver.” Please contact us for more information and to discuss your particular search requirements regarding the exclusive properties selection from: www.residential.cwechinox.com+4 021 310 3100 l

Real estate consultancy company Cushman & Wakefield Echinox is involved in the residential sales and office lease for One Floreasca City, the latest landmark development in the North of Bucharest. Over 35 % of the residential component is already pre-contracted, and a share of 25 % from the office segment is about to be signed.“There is a very strong interest in the project: the waiting list before starting the sales was of over 300 people, and currently the developer undergoes pre-sales agreements every week. One Tower offices is a separate project, for which there are already negotiations with some tenants in order to sign the Head of Terms,” says Raluca Plavita, Director Residential Agency Cushman & Wakefield Echinox.Read more on www.business-review.eu

Romania has a small, but relative strong luxury residential market, beginning with pre-war refurbished buildings and continuing with small 5-10 flats blocks, or penthouses overlooking the city. “It is a very small percentage of medium, medium-plus products, which are close to EUR one million. If you choose to invest in one of these projects, only a few apartments, practically the penthouses, that offer large surfaces, are approaching this level. 1 percent or 2 percent of the project,” Mihaela Pana, Partner Residential Agency Cushman & Wakefield Echinox, told BR. Read more on www.business-review.eu

The new official residence of the Qatar Embassy in Romania is located in Northern Bucharest, in a new premise that spans 4,000 sq. m. The villa, which was completed in 2014, has an interior pool, a Jacuzzi and a private garden. The leasing transaction was handled by the real estate consultancy firm Cushman & Wakefield Echinox. Raluca Plavita, Director Residential Agency C&W Echinox, said that the company has been working with the Qatar Embassy in Romania for over than seven years.Read more on www.business-review.eu

Over 1,000 premium and premium plus apartments are scheduled to be delivered in the next two years, a study by Cushman & Wakefield Echinox said. Accordingly, over 40% of premium and premium plus scheduled to be delivered within the next year have already been purchased. Cushman & Wakefield Echinox released the 2nd edition of the ‘Bucharest Premium Residential Market’ report on June 8. The report analyses the evolution of the premium market of new residential units located in the central northern part of Bucharest in 2016. Read more on www.business-review.eu