What’s your overview of Romania’s real estate market and its potential for further growth?

The market has matured considerably, boasting impressive residential compounds and office buildings amidst safe, harmonious cities. Yields here outshine those in neighboring regions. Romania’s human capital, educational standards, and expansiveness make it an attractive prospect for global developers.

Does real estate play a significant role in NNDKP’s operations? How challenging is this sector?

Real estate has been a cornerstone at NNDKP. It’s dynamic and diverse, presenting unique challenges in each transaction. We strive for a client-centric approach, guiding them through deals of all scales, learning and adapting in the process. I’ve witnessed the market’s fluctuations since joining in 2005, experiencing its highs and lows.

Do you anticipate a downturn comparable to the 2008 crisis due to the pandemic?

The market has remained fairly stable so far. Some segments experience delays, yet promising deals are still approved. Logistics, particularly, has emerged as a favored sector. Investors now favor longer-term projects, indicating a more sophisticated and resilient market.

Transparency issues plague Romania’s administrative system. What hurdles do you face?

Permitting processes are a common struggle. The legislation is poorly constructed, leading to chaotic and inconsistent practices across regions. Permit revocation risk remains high, unlike in more stable regulatory environments.

What measures can address these issues?

Improved wages for public authorities could attract more competent professionals, potentially reducing corruption and enhancing decision-making processes.

How do you foresee the real estate sector’s evolution, and what’s your message to potential investors?

Logistics is thriving, and the office segment holds potential despite an anticipated short-term setback due to the pandemic. Romania, especially cities like Bucharest, Iasi, Cluj, or Timisoara, stands out as a lucrative investment hub, particularly in the swiftly advancing IT landscape.