Romania's Real-Estate Market Is In Free Fall

The number of deals on the real-estate market last year was 64% lower than in 2007, grossing around 1,000 million Euro, a CBRE-Eurisko study shows.

However, the drop in prices, which started in 2008 and continues to date, is likely to attract investments from investors with available funds on their hands, who target the top locations and high-end properties.

One deal alone made 33% of the aggregate value of deals. It was the RREEF Real Estate fund buy of 78% of the Upground development, for 340 million Euro. The next biggest deal was sealed by DEGI, which bought Iris Shopping Center in Bucharest's Titan district, for 147 million Euro.