Brasov

RPC Talks with Ionuț Nicolescu, Real Estate Investor
RPC Talks with Ionuț Nicolescu, Real Estate Investor 1707 2560 ROMANIA PROPERTY CLUB

RPC Talks to Ionuț Nicolescu

Real Estate Investor

Investor Profile

With an experience of 15 years on the Romanian real estate market, Ionut Nicolescu has an active role in forging strategic partnerships that are pivotal in delivering revenue goals, with several ongoing property developments. Previously, he worked as Managing Partner at Coldwell Banker Affiliates of Romania and was also the Co-founder of SVN Romania. Currently, Ionut is investing in two projects on the market from Brasov, one in Cristian, affiliated with an international hotel brand operator and a new project, located downtown Brasov.

BRAȘOV FOCUS

Brasov is increasingly emerging as a major real estate attraction, thanks to its unique combination of economic development, growing tourism and high quality of life. With a modernized infrastructure, easy access to major cities and an urban landscape that harmoniously combines history with innovation, the city attracts both investors and professionals looking for flexible living solutions. In addition, Brasov’s status as a preferred destination for digital nomads and expats, along with the growing demand for medium-term accommodation options, makes the real estate market in continuous expansion, offering valuable opportunities for developers and investors.

A NEW INVESTMENT IN THE HISTORIC AREA OF THE CITY

The urban accommodation market improves with a new innovative project, dedicated to those looking for a modern and flexible solution for medium-term stays. Strategically located in the center of Brașov, this project redefines the housing experience, offering comfort, accessibility and a wide range of facilities adapted to current needs.

Through this initiative, we address expats, digital nomads, professionals on delegations and all those who need premium accommodation, without the constraints of a long-term commitment. The central positioning ensures quick access to the urban infrastructure, business areas and cultural attractions of the city.

This unique concept combines modern design with functionality, creating an ideal space for both work and relaxation. In addition, the project integrates innovative facilities, adapted to the contemporary lifestyle, thus consolidating Brașov’s status as an urban hub of international interest.

CONTACT: ionut@aiyoncapital.com

RPC Talks with Răzvan Calița, The Seller & Partners
RPC Talks with Răzvan Calița, The Seller & Partners 1080 1620 ROMANIA PROPERTY CLUB

RPC Talks to Răzvan Calița

Managing Partner, The Seller & Partners

Profile of the company

The Seller & Partners has a track record of over 15 years on the real estate market from Brasov. Since its establishment in 2009, the company was part of two worldwide recognized brands as a franchised partner. Starting with January 2025, the company’s founders, Nicole Rosnovăț and Răzvan Calița, who held, for 10 years, managing partner positions at Coldwell Banker Alpin, part of the Coldwell Banker group, one of the most well-known real estate consulting companies in the world, and for 5 years at SVN Romania | Brașov, decided to create The Seller & Partners, an independent real estate agency that offers bespoke real estate services. The firm has a team made up of 18 experts: 13 brokers and 5 support employees.

BRASOV RESIDENTIAL HOTSPOT

With a key location in the center of the country, Brasov has attracted residents not only from the city and the surrounding areas, but also form different cities form Transylvania (such as Oradea, Arad, Targu Mures), the southern towns of Moldova and from Bucharest.

Due to the high interest, the city is now Romania’s second most expensive residential market, following Cluj-Napoca. According to our data, the medium price in December 2024 (both new and old market) was 2,154 EUR/SQM.

Some of city’s most sought-after areas are downtown, Drumul Poienii, Centrul Civic, Racadau & Tractorul for apartments, while for homes clients are looking for neighbouring districts with easy access to the city, such as Ghimbav, Stupini, Cristian, Sanpetru or Hărman.

We are the most active player on the New Homes segment, with over 1,200 new units sold in the last 7 years.

THE RISE OF THE CITY AS A TOURISM DESTINATION CREATES NEW OPPORTUNITIES

During the last couple of years, the interest in Brasov as a touristic destination grew significantly. The gateway city to Transylvania attracted the attention of international hotels brands: last year Swissotel inaugurated in Poiana Brasov, while in Cristian our partners are working at Radisson Blu Grand Mountain Resort, the first 5-star mountain villa resort in Romania.

Driven by excellence, based in Brașov, The Seller & Partners is a real estate company that brings together a team of real estate consultants with over 130 years of combined experience. Specializing in bespoke real estate services, we focus on trading high-end properties, both in Romania and on international markets.

CONTACT: https://theseller.ro / razvan.calita@theseller.ro

Nhood Romania transforms abandoned or underutilized spaces into active community projects through real estate upcycling
Nhood Romania transforms abandoned or underutilized spaces into active community projects through real estate upcycling 2560 2225 ROMANIA PROPERTY CLUB

Nhood, an integrated real estate services and solutions company present in 10 European countries, including Romania, proposes an innovative solution to transform abandoned or underutilized spaces into community-relevant projects through real estate upcycling, a practical and sustainable approach to the challenges of accelerated urban development. Nhood proposes the reconversion of former industrial platforms, vacant commercial buildings, and unused land. These spaces are given a new life, becoming active community centers with housing, offices, green areas, and commercial spaces, thus revitalizing urban areas.

Nhood applies the real estate upcycling strategy in several projects within the services portfolio it manages for its clients, which, unlike recycling, offers a second life to existing spaces, leveraging on their uniqueness and history. Through this urban intervention, the company combines sustainability with respect for the history and specifics of each location, transforming non-functional buildings and areas into sustainable urban ecosystems with a real economic, social, and cultural impact on cities.

One such example is Coresi District in Brașov – the largest urban regeneration project in Romania – which Nhood manages and supports in its continuous development. Covering an area of 120 hectares, the former industrial platform has been transformed into a modern and dynamic district that integrates mixed functions – from retail and offices to residential, education, culture, and green spaces, while preserving the historical identity of the place. Within the same project, Nhood is coordinating the rehabilitation of a 3,000 sqm industrial hangar, which will become an entertainment space, retaining its original architecture and adding a new urban functionality.

At the same time, the company offers real estate upcycling solutions to several Aushopping commercial centers, proposing the remodeling of existing spaces to better meet the current needs of local communities. And in Bucharest, Nhood has proposed transforming the roof of the Drumul Taberelor shopping center – a previously unused space – into a 17,000 sqm urban garden, intended for relaxation, educational activities, and community initiatives.

“Romanian cities have a real opportunity to actively regenerate abandoned or underutilized areas without erasing their history. Real estate upcycling means exactly that: transforming spaces with an industrial or commercial past into a coherent, connected, and sustainable urban future. It is an efficient, scalable solution with proven positive impact,” stated Elena Bocan, Head of Market Nhood Romania.

These types of projects have the potential to fundamentally change the lives of local communities by attracting investments, generating jobs, stimulating cultural and social initiatives, and revitalizing areas once neglected.

The real estate upcycling process contributes to balancing urban development, bringing complementary functions to neighborhoods that need diversification and revitalization. These interventions reuse existing infrastructure and create opportunities for a more sustainable, connected, and participatory lifestyle.

In addition to ongoing projects, Nhood Romania is considering such initiatives in key cities across the country, aiming to transform commercial or industrial areas into mixed-use complexes – with complementary retail, office, residential, services, and green space functions.

“Through this campaign, we reaffirm Nhood’s mission to transform existing spaces into valuable places for the community, with respect for their history. Real estate upcycling means building the future from what we already have – with responsibility, vision, and creativity,” stated Monica Dima, Head of Brand Marketing & Communication at Nhood România.

The campaign conveys the belief that the future of real estate development lies not in demolition and reconstruction, but in the creative repurposing of what already exists. The campaign’s visual identity is created by Estonian illustrator Eiko Ojala, whose minimalist and conceptual work symbolizes transformation, depth, and the intelligent reuse of space — central themes in Nhood’s philosophy.

Through this manifesto, Nhood presents a truly innovative vision: real estate upcycling is not just a trend, but the future of cities and regions.

1.5 Million tourists speed up Brașov’s touristic infrastructure development
1.5 Million tourists speed up Brașov’s touristic infrastructure development 1621 1080 ROMANIA PROPERTY CLUB

1.5 mln tourists were registered in Brasov county in 2024, 3rd destination nationwide, following Bucharest – 1.9 million and Constanta – 1.7 million (hotels & short-term rentals), according to National Statistics Institute. Overnight stays in both hotels and apartments recorded 2.8 million people, third value nationwide, following Constanța -5.5 million and Bucharest -3.9 million.

As Brasov is gaining a lot of attention as a touristic destination, making it on the recommendation list of publications such as National Geographic or Vogue, international hotel brands are targeting this city. Over 700 branded hotel rooms are expected to be inaugurated in 2025. In total, the county has 128 hotels with 5,871 rooms.

The information for Brasov, gathered by RPC from Est Hospitality, a tourism consultancy company, shows that:

  • Tourist arrivals and overnights in hotels are still below levels of 2019.
  • 19% notable increase of overnights in apartments – competition is getting serious for hotels.
  • Growing trend is expected to continue in the coming years due to the pipeline of new branded hotels, the number of festivals and the increased number of MICE events.

Mircea Draghici, Managing Partner, Est Hospitality: “2025 is a key year for Brasov with five new branded hotels following to open and bring an offer of 727 rooms on the market. Those inaugurations are expected to also boost the number of foreign tourists looking for standardized hotel services.”

BRAȘOV, expected to become more strategically on Romania’s map
BRAȘOV, expected to become more strategically on Romania’s map 1618 1080 ROMANIA PROPERTY CLUB

Traditionally a manufacturing and tourist destination, its location is gaining even more significance due to the strengthening of the defence sector and transportation routes.

The Cincu military base was extended and is now ready to receive 4,000 troops engaged in tactic exercises. The newly inaugurated Brasov Airport received infrastructure upgrades to extend its capacity to receive military cargo and to improve response time. Rheinmetall is building Europe’s largest gunpowder factories in Victoria, supported by European Defence Fund financing. The delivery is forecasted for Q1 2027 and shall strategically contribute to Romania’s defence independence.

900 Million EUR Public Investments

The City Hall has budgeted 154 million EUR for investments in 2025 to be allocated for education (new kindergartens and nursery schools, as well as consolidation of old schools), public development (new Pneumology Hospital, Polyvalent Hall, Youth Stadium, new parks and rehabilitation of public buildings), infrastructure and tourism (expansion and streamlining of the ski area in Poiana Braşov – stage II)

The County Council has a budget of 172 million EUR for infrastructure updates: 100km for county roads and 53.1 km for Brasov Metropolitan Belt.

One of the most talked about projects is the Rheinmetall gunpowder factory in Victoria, a project totalling over 500 million EUR, backed by funds from European Commission as well as Romanian public funds.

Another 20 million EUR are allocated for an integrated dual education campus to be build In Stupini area, comprising classrooms, technological workshops, a library, student housing, a cafeteria and a gym.

Looking ahead, road infrastructure investments such as the Comarnic motorway, Sibiu–Fagaras highway, and the future Bacau – Brasov highway (feasibility study stage) truly put Brasov at the heart of the country.

Tourism in the Spotlight

In terms of the local economy, the slowdown of the auto sector led to temporary unemployment and a priorities realignment for multinational companies present in the areas. However, the versatility of the local economy proved powerful, as the new hotel openings and commitments buffered any concerning news.

As Brasov is gaining a lot of attention as a touristic destination, making it on the recommendation list of publications such as National Geographic or Vogue, international hotel brands are targeting this city. Last year Swissotel inaugurated in Poiana Brasov, while another 1,100 rooms are under development from brands such as Hyatt, Kempinski, Mercure, AC by Marriott, Hilton Garden Inn, Ibis Styles, or Double Tree by Hilton. The inauguration are estimated between 2025 – 2028.

Finding a suitable operator with the right flight frequency for the summer and winter seasons took a while, but Wizzair proposed the right balance to take advantage of the great cultural heritage and natural treasures Brasov has to offer to the world.

New Hotspots & Real Estate Investments

The next step of the city’s development is the urban regeneration of the former Rulmentul industrial platform. Several studies performed by both the World Bank and an association of architects led to a design solution. We’re still waiting for a PUZ, a decision, and financing to redefine what the modern Brasov will look like. At the end of the process, the former Tractorul and Rulmentul platforms shall unite to provide a good case practice on how to perfectly blend heritage with functionality and modernity in a city.

The largest international investors present on Brasov market, French-based Ceetrus & Israeli-owned AFI Europe announced new expansion plans.

Ruxandra Dragomir, Head of Development at Nhood Services Romania, the exclusive Development , Property & Asset Management, Leasing, ESG service provider for Coresi mixed-use development by Ceetrus: “Coresi is Romania’s largest urban mixed-use regeneration project with 55,884 sqm of retail, 59,400 sqm of offices, a 4* hotel with 133 rooms, and a residential component with 2,400 finalized apartments as well as 90,000 sqm green spaces and 7,000 parking spots. Future development plans include a 10,800 sqm office building, the rehabilitation of Hangar historical building (3,000 sqm) with a gastro entertainment concept, a 20,000 sqm sports arena and a 4,000 sqm educational campus in partnership with a private school.”

A traditional manufacturing destination, Brașov consolidates its hub status
A traditional manufacturing destination, Brașov consolidates its hub status 1621 1080 ROMANIA PROPERTY CLUB

The county is the third largest industrial & logistics hub in Romania, after Timisoara and Ploiesti. Brasov enjoyed a growing modern warehousing & production market, with nearly 16% of the total 470,000 sqm stock being built in the past twelve months.

Moving forward, an additional 13,000 sqm shall be built, as Brasov is one of the few regional hubs with active construction pipelines in 2025. VGP is one of the top three dominant players that is pursuing new developments in the county.

The vacancy rate is one of the lowest in the country – just under 2%, but that is due to the non-speculative character of the region. For comparison, the vacancy rate in Bucharest-Ilfov (the region that hosts half of Romania’s modern stock) is at 5%; in Timisoara, the second-largest industrial & logistics hub, the vacancy rate stands at nearly 11%.

The take-up stood at 16,200 sqm, a significant drop compared to the previous period when jumbo deals such as the 47,000 sqm Intercars pre-lease made headlines. However, the region gave signs of steady, sustainable demand.

The asking headline rents slightly dropped from 4.5 EUR/sqm to 4.4 EUR/sqm due to the market dynamics. The county is dominated by auto and electronics producers, which are under market pressure due to economic developments. This triggered a schedule of mass layoffs and production properties put up for sale. It is to be determined whether this will have long-term consequences or if it is simply a natural transformative period.

Dana Bordei, Country Commercial Manager, VGP Romania:

“Brasov, a city with a fast economic growth, is an increasingly strong pole of attraction for national and international companies. VGP Park Brasov enjoys the fastest growth of VGP’s portfolio in Romania, reflecting the robust demand for class A spaces in the proximity of the production units located in the western part of the city.

This region is becoming increasingly attractive for new suppliers and business partners, due to the availability of a qualified workforce and the presence of rapidly developing production and distribution companies.

With the five buildings already delivered, totalling approximately 123,000 sqm, which are designed and built according to the strictest sustainability and energy efficiency standards, VGP Park Brașov is positioning itself as a reference example in sustainable real estate development.

Infrastructure developments such as the Sibiu-Brasov-Bacau A13 highway shall bring new development opportunities. The Sibiu–Fagaras 70 km lot is under active construction, with works expected to be done by 2027. While the Brasov – Bacau lots are at the feasibility stage, the opening of the Sibiu-Fagaras lot will bring new development opportunities as connectivity to Western Europe is significantly improved.

Brasov accelerates industrial & logistics development
Brasov accelerates industrial & logistics development 2560 1884 ROMANIA PROPERTY CLUB

16.04.2024

Brasov has been an interesting center of attention during 2023, with multiple new builds and announced projects. Both institutional investors and owner-occupiers made significant commitments towards the region.

Brasov is part of the Central region on Romania’s map of modern industrial & logistics premises. Out of the total 7.02 million sqm of national stock, the center region covers 680,000 sqm, half of it being in Brasov.

Owner-occupiers such as Olympus, Ursus, Bauer, and Foerch undertook significant investments towards adding processing, storing, and office capacity.

Olympus announced a 40 million EUR expansion into state-of-the-art cold storage, warehouses, and offices.

Ursus committed to investing over 50 million EUR for the next three years, featuring a new bottling line, warehouses, offices, and an extension of the production facility.

The top three institutional investors – VGP, WDP and CTP -have started a solid development pipeline, with a total combined build capacity of over 360,000 sqm.

VGP signed multiple new tenants, including a record of 47,000 sq m with Intercars, working on the automotive strengths of the region, and an 8,500 sq m lease with DB Schenker.

CTP announced a significant new investment in the city ecosystem, by signing a multi-stage growth lease with Diehl Controls, one of the major home appliance and HVAC production companies.

One of the pioneers of the industrial market in Brasov, ICCO, has 45,000 sq m under development, whereas NEPI Rockcastle has 23,000 sq m available to let in the wider county (Rasnov).

Urban logistics operator, Modulis, is preparing Phase II for go-to-market – 33 small warehouses to cover more than 20,000 sqm.

The authorities are quite involved in pitching to new investors, thus offering large industrial platforms suitable for development. While the former CET platform is still under review and clearing, in Prejmer the local governing body opted for a Public – public-private partnership with Spanish operators Graells & Llonch.

The site, originally an impressive 82 ha plot, has attracted residents, mainly SMEs and local producers, on more than 50 ha. Through residency, companies are offered incentives such as no property tax and/or deductions.

The prime asking rent for modern Class A facilities surged from a base of 3.6 – 3.85 EUR/sqm to 4.25 – 4.5 EUR/sqm, aligned with Bucharest prime rents.

Investments towards increasing the output are not only in facilities but education as well.

In partnership with the City Hall and the dual education center, Schaeffer invested 0.5 million EUR in 2023 in scholarships and meal vouchers to train personnel.

In 2024, the plans are to increase the budget to 0.7 million EUR and contribute to the material base of the class (specialized equipment).

Along with Schaeffer, 15 other companies are partners with the dual education center, among which Draxelmeier, Vitesco, Schneider, and Preh.

This is an outstanding example of aligning the corporate and the public systems to generate a win-win situation and contribute to the economic development of a region.

To unlock further value, investors are waiting for the streamlining of the new international network and for road infrastructure projects to materialize.

Novel retail & leisure concepts enter Brasov market
Novel retail & leisure concepts enter Brasov market 2560 1707 ROMANIA PROPERTY CLUB

15.04.2024

The Brasov retail market development has been steady, with a few notable new moves. A new retail park, built by Element Development, was added last year to the existing 170,000 sqm of modern stock, which is mainly anchored by the established schemes – AFI Brasov and Coresi Shopping Center (105,000 sq m combined GLA).

The largest retail area was developed on the former Tractorul platform, where Coresi shopping resort was inaugurated in 2015, spreading over 24 hectares.

The owner announced development plans, with a new retail hub comprising a 4,200 sqm Decathlon store, a 2,050 sqm Bebe Tei, 850 sqm Farmacia Tei and two large furniture stores Momaz and XXXLutz on 28,000 sqm and Mobexpert on 9,600 sqm.

Decathlon, Bebe Tei and Farmacia Tei are scheduled to open in 2024, while Momaz, XXXLutz and Mobexpert in 2025.

Flanco made the first step in implementing its new greenfield development strategy by acquiring a 5,000 sq m land plot in Brasov, to build a 1,500 sq m single-brand shop and supplement its presence in the region.

Remote work, which allows talent from anywhere to connect to a virtual delivery office also contributed to the slower take-up throughout the country. In Brasov, remote workers are served by co-working, such as The Business Factory located in Coresi. Raiffeisen Bank also offers a few co-working offices through its Hub1317 program.

Alexandrion Group announced plans to invest in a concept of shops and hotels, which is aimed at Romanians with incomes of 1,000-1,500 euros, who want to consume fine drinks, such as single malt, brandy, or rum, in the city, at affordable prices and to have entertainment, such as watching a football match or live music. Brasov is on their development plans.

Another notable addition is a large transaction represented by the signing of the fourth La Cocos store, a domestic discount supermarket. An anchor level of 10,000 sqm was signed at BRINTEX Discount Shopping Centers, located in the Bartolomeu area, a retail scheme that recently underwent an extensive refurbishment process.

A key development is the purchase made by Speedwell – the former Tino factory. The 17,600 sq m surface is currently under master planning, with the expectation of building a residential – retail mixed-use, coming to market in the medium to long term.

In terms of pipeline, Rara Group is considering a retail park in Ghimbav spanning over 15,000 sq m of land. While other retail parks were previously announced, the developers decided to cancel the projects for the time being.

The city still relies on the services and brands present in the two existing shopping centers.  AFI Mall spans over 45,000 sq m and was opened in 2020. It is located in a prime central area with long-term value for both residents and tourists.

The center hosts more than 350 shops and a good mix of international and local brands. Coresi Shopping Resort, a 60,000 sq m development, is part of a wide urban regeneration scheme and serves mixed-use residents and the wider Brasov population.

Low development pace for Brasov office market
Low development pace for Brasov office market 1618 1080 ROMANIA PROPERTY CLUB

15.04.2024

The Brasov office market size and pace is dictated by the pipeline of university students (c.a. 20,000 per year), ranking 5th after Bucharest, Cluj, Iasi, and Timisoara. The modern stock was maintained at 155,000 sq m, with no new developments in 2023.

However, AFI obtained the building permit to continue building Phase II (10,000 sq m) for the office park adjacent to the AFI Brasov Mall, with an expected delivery date in 2026.

The headline rent slightly increased to 13.5 EUR/sq m, even though the pace of take-up was as slow as in 2022. Fewer than 5,000 sq m were transacted in 2023, mainly by IT & C companies. The take-up trend aligns with other regional leaders, where new absorption was less than 10,000 sq m / per city through 2023.

While the average wage in Brasov is 1,400 EUR/month, below Cluj, Timisoara, and Iasi, work from home and hybrid policies led to a supply of subleases, whereas new entrants preferred to focus on the opportunities offered by the talent pool in Romania’s main city.

Remote work, which allows talent from anywhere to connect to a virtual delivery office also contributed to the slower take-up throughout the country. In Brasov, remote workers are served by co-working, such as The Business Factory located in Coresi. Raiffeisen Bank also offers a few co-working offices through its Hub1317 program.

Strong multinational tenants in IT&C, BPO / SSCs, and retail are being served by the existing three business parks in the city, AFI Offices, Coresi Business Park, and Brasov Business Park. The latter might resume construction of its next phase during the medium term, subject to demand.

The outcome of the public debate on the zoning and services required by the 36ha urban regeneration of the former Rulmentul factory might dictate a new development pole on the long term.

Brasov residential market enters new development phase
Brasov residential market enters new development phase 4835 3237 ROMANIA PROPERTY CLUB

12.04.2024

An analysis with the support of imobiliare.ro

Brasov residential market has become the largest regional residential market, and the second one at national level, following Bucharest & Ilfov. This is no surprise given the strategic location in the center of the country, attracting residents from surrounding areas, and the touristic potential of the area.

The most developed areas are Bartolomeu, Tractorul and Noua-Darste. The inauguration of the international airport last year has opened the potential of the area and Bartolomeu district is expanding to the border with Ghimbav. With the support of our partner imobiliare.ro we have drafted an analysis for the new residential market in Brasov based on the data from January and February 2024.

Comparing 2024 with 2023, the biggest increase is for two rooms (16%), followed by three rooms (9%). The demand for four-room apartments has dropped by 4%, while the demand for studios has seen the biggest decrease, by 11%.

In the first two months of 2024, the biggest increase of new units’ offer is for four rooms apartments (33%) followed by two rooms (14%). The three rooms offer has raised by 6%, while the offer for studios had dropped by 4%, compared to the previous year.

The prices have maintained a steady increase, with 12% in 2024 vs 2023. Medium price for new units is 2,053 Euro/net sqm + VAT.

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