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Industry revenue of »rental and operating of own or leased real estate« in Romania 2011-2023

Over the past decade, Romania has witnessed considerable economic growth, owing to a rise in foreign investments, a low inflation rate and favorable government policies. Several big international companies such as Microsoft and Deloitte have set up their offices in the country, due to the favorable interest rates, and many others are set to follow. This has augured well for the rental and operating of own or leased real estate sector, with revenues projected to grow from 1.5 billion U.S. dollars in 2011 to over 2.6 billion U.S. dollars by 2023. According to businessreview.eu, nearly 0.7 million square metres in new offices are announced for the next couple of years in Bucharest, as it fast becoming a tenant market for office buildings. As of 2018, the average prime rent for office space in Bucharest was 228 euros per square meter.

Romania has highest home ownership in the world

At 96.4 percent, Romania has the highest home ownership rate not only in Europe, but the world, according to BBC, owing to the low prices. Croatia, followed by Lithuania, Hungary and Poland fall next in line respectively.

Industry revenue of »rental and operating of own or leased real estate« in Romania from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Romania. The industry “rental and operating of own or leased real estate“ has the code “L682“.

Details on the methodology can be found here.

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