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The office sector in capital city Bucharest shows a positive fluctuation in terms of total leasing activity, after the first three months of 2024, being 71% higher than in the same period of 2023, according to data from real estate consulting firm CBRE.
Foreign investments continued to dominate, constituting 55% of the total inflows, while domestic investments also registered a significant increase of 15% year-on-year in Q1 2024. The share of domestic inflows in overall institutional investments continued to rise to 45%, compared to 24% in Q1 2023.
A spike in delinquencies for loans backing commercial mortgage bonds is more alarming than banks' exposure to real estate, David Rosenberg said.
A full-blown reconstruction of office sector at far lower valuation points is needed to succeed in the current hybrid working climate.
Besides Ahmedabad, other cities, including Chandigarh, Jaipur, Coimbatore, Kochi and Indore, have flex stock between 0.3-0.5 mn sq ft