What’s the vision MVGM proposes for its future endeavors in the Romanian real estate market after entering with vitality last year?

My real estate journey began in 2006, focusing predominantly on property management at JLL and later at MVGM post their acquisition of this division. There exists a slight divergence between the Romanian real estate market and other European counterparts. However, our aim is to bridge this gap and provide top-tier property management services.

Could you outline the sectors MVGM manages and the complexities associated with each?

MVGM oversees both commercial and residential properties, offering an array of services including tenant management, financial, operational management, reports, and marketing. The retail sector poses the most challenges, demanding comprehensive oversight from local authority relationships to marketing strategies. Each sector requires tailored services, presenting both enthralling prospects and complex challenges.

What are some advantages and challenges involved in outsourcing property management services?

Outsourcing property management ensures professionalism and flexibility. For instance, handling disputes between owners and managers is more manageable externally than internally due to resource constraints. Similarly, it ensures quality standards, like the “four-eye principle,” often seen in European companies.

With 15 years in real estate, what notable changes have you observed in the market?

Romania’s real estate market possesses unique nuances. Initially, concepts like “service charge” were challenging for owners and tenants. However, the market is rapidly maturing and growing more educated. Over the past decade, the market volume doubled, notably in the industrial sector, although lagging behind other CEE countries.

Reflecting on the specific Romanian market, what are the main encountered challenges?

Infrastructure and bureaucracy stand out as primary obstacles. Regional disparities and bureaucratic barriers hinder seamless operations, creating unpredictability in transactions.

What personality traits are crucial in property management?

Resilience, empathy, and flexibility are key. Working with diverse personalities—employees, tenants, contractors, and authorities—demands effective relationship management.

What goals does MVGM Romania aim to achieve in the coming years?

We target managing over 2500 residential properties while consolidating our commercial sector. Amid the pandemic, our focus was on cost reduction and client safety. Despite challenges, the residential sector thrives, and we anticipate market improvements by fall.

Do you have a message for potential investors considering the Romanian real estate market?

Experiencing the Romanian market firsthand is pivotal. Its vast dimensions and financial worth are often surprising. Despite challenges, its unparalleled dynamism and vibrancy make it an unparalleled investment hub.