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Cars: APIA: 20% drop of automobile market in Romania in first two months

Tuesday, March 24, 2020

The automobile market in Romania recorded a drop by 20.2% in the first two months of the year, compared to the same period of 2019, 62% of sales being supported by juridical persons, according to statistics made by the Association of Automobile Manufacturers and Importers (APIA). Specialists point out that the evolution in Romania is in line with that in Europe and to some extent can be explained by the market evolution, generated by observing more ...

ACAROM: National car production grows 7.71 pct in February and exceeds 48,000 units

Tuesday, March 24, 2020

Over 48,000 cars were produced in Romania in February this year, showing an increase of 7.71 pct, compared to the same period of 2019, reveal the statistics published by the Association of Automobile Manufacturers of Romania (ACAROM).According to the centralized data, of the total 48,038 cars produced at the national level, 27,883 units belonged to the Dacia plant in Mioveni, and 20,155 units came out of the Ford factory in Craiova.Overall, in February ...

Tourism: About 86% of hotel owners consider coronavirus epidemic is real threat for domestic tourism

Tuesday, March 24, 2020

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About 86% of hotel owners consider coronavirus epidemic is a real threat for domestic tourism, as they have already recorded a considerably lower number of reservations for the months of March and April and last week they registered the first cancellations, according to a study made by hotel reservation site TravelMinit.ro. According to the same study, the biggest drop of the number of registrations, compared to 2019, was for the Easter period (76.7%), ...

Athenee Palace Hilton suspends activity for first time in 106 years

Tuesday, March 24, 2020

Athenee Palace Hilton suspends its activity as of March 23 for the period of the emergency situation, for the first time in 106 years of activity, Ana Hotels Group owned by businessman George Copos announces. Athenee Palace Hilton, a historic building and one of the most important tourist attractions in Bucharest suspends its activity after 106 years since its opening. The measure applies to the period of emergency state as of March 23. “It is a decision we make ...

In 2019, the non-resident tourists arrived in Romania spent on average 2583.1 lei/person

Tuesday, March 24, 2020

In Quarter IV 2019, the total number of non-residents in collective tourist accommodation*) was 563.7 thousand and their expenditure amounted per total 1410.0 million lei. In 2019, the total number of non-residents in collective tourist accommodation was 2669.5 thousand and their expenditure amounted per total 6895.7 million lei. In Quarter IV 2019, the main reason of the ...

Hard effect of coronavirus - 50% of hotels in Romania are closed

Tuesday, March 24, 2020

About 90 hotels out of a total of 900 permanently operating in Romania have already been closed due to lack of customers, and another 40% will be closed soon, data obtained ...

Infrastructure : Govt. hopes to build Comarnic-Brasov motorway by 2026

Tuesday, March 24, 2020

The 52-km motorway stretching from Comarnic to Brasov, the section of the Ploiesti-Brasov motorway that crosses the Carpathians that raises the most difficult technical problems, will be split into five segments auctioned separately, according to a Government plan consulted ...

Healthcare: Up to EUR 4 billion worth of counterfeit pharmaceuticals traded worldwide

Tuesday, March 24, 2020

Antibiotics, lifestyle drugs and painkillers the most targeted by counterfeiters Customs seizures include counterfeit malaria, diabetes, cancer and heart disease treatments Growth in small parcel deliveries is facilitating trade in fake pharmaceuticals A new report released Monday by the European Union Intellectual Property Office (EUIPO) and the ...

Cars : New and used car registrations drop by 5.66 pct, in first two months of 2019

Tuesday, March 17, 2020

Over 93.300 new and used cars were registered in the first two months of this year in Romania, a drop of 5.66 pct over the same period of 2019, the statistics of the Directorate for Drivers Licenses and Car Registrations (DRPCIV) show.According to the quoted source, of the total registrations of new cars, recorded in the January - February interval, most were: Dacia - 5,744 units, a drop of 38.11 pct over the same interval of the previous year, followed by Volkswagen ...

Maintenance and repair of vehicles, motorcycles and market services increase in January 2020

Tuesday, March 17, 2020

The wholesale and retail turnover, maintenance and repair of vehicles and motorcycles increased as gross series by 3.8 percent in January 2020 compared to the same period of 2019, according to data released by the National Institute of Statistics (INS) on Monday. In January 2020 against January 2019, the total volume of wholesale and retail turnover, maintenance and repair of vehicles and motorcycles, as adjusted series according to the number of working days and seasonality ...

Tourism : Tourism industry asks Govt. for support amid coronavirus crisis

Tuesday, March 17, 2020

Private entities in Romania’s tourism sector have invited the authorities to identify together measures that would diminish the negative consequences for the hospitality industry in the context of the spread of Covid-19 in Romania. Among the measures suggested by private operators in the tourism industry are the exemption from paying income taxes for the next three months, with the possibility of extending the measure for six months in case of necessity, full deductibility for ...

Study: Hospitality industry, strongly affected by coronavirus

Tuesday, March 17, 2020

The hospitality industry is strongly affected by the spread of coronavirus, and companies in this industry are expecting a 50-60% drops in revenues, according to a study by the Hospitality Culture Institute released on last Friday.Hotels, transport and travel agencies report massive declines in bookings and cancellations of events. With these, the food service industry is feeling a major impact.Thus, over the last two weeks there has been a decrease by more than 20% ...

Real Estate: Vacancy rate on Bucharest office market to rise this year

Tuesday, March 17, 2020

Office space deliveries in Bucharest will decrease this year to 200,000 square meters (sqm), from over 286,000 sqm in 2019, but are expected to reach 500,000 sqm in 2021, according to estimates included in an analysis made by the real estate consulting company Colliers International. In the medium term, this will predictably increase the competition between developers, and between developers and owners of existing modern buildings, who were left with 140,000 sqm vacant space after ...

Real Estate Outlook 2020: Romania, the only CEE state that hasn’t seen significant yield compression

Tuesday, March 17, 2020

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A new peak in total transaction volumes of 13.9 bln. EUR was reached last year across the CEE region. Including Austria and Serbia, the volume is even greater: 20.19 bln. EUR. In Romania, transaction volumes surpassed the 1 bln. EUR milestone and is the only main CEE market which has not seen significant yield compression. Total investment volumes doubled over the past 6 years within the extended CEE region that comprises Czech Republic, Hungary, Poland, Romania, Slovakia, Austria ...

COVID-19 impact expected to be negative on commercial real estate market short term

Tuesday, March 17, 2020

The impact of COVID-19 will be negative in the short term on certain sectors of the commercial real estate market in Europe, provided that the outbreak gets under control within a reasonable time, says Anthony Selman, CBRE Head of Investment Properties Central and Eastern Europe.According to an analysis conducted by the CBRE real estate consulting company, the volume of transactions in Romania exceeded the threshold of one billion euros last year, being the only main market in ...

Real estate: Over 60% of CFA Romania analysts consider that real estate prices are over evaluated

Tuesday, March 10, 2020

62% of CFA Romania analysts consider that real estate prices in the main cities are over evaluated and 61% estimate the increase of interest rates for short dues. “The anticipated inflation rate for 12 months (February 2021/February 2020) recorded an average value of 4.04%. Interest rates will also grow for short terms (ROBOR 3M) and for long ones (sovereign bonds due in 5 years denominated in RON). Over 61% and 64% of ...

Eight cities concentrate 90 pct of Romania's industrial and logistics space stock

Tuesday, March 10, 2020

Romania's stock of industrial and logistics space has topped the threshold of 4 million sqm; eight big cities in the country south, center and west concentrate 90 percent of this space, shows the report Romania Industrial & Logistics Market by real estate consulting firm Cushman & Wakefield Echinox.According to the document, the only cities in the country east to have caught the attention of private developers of industrial and logistics parks are Iasi, ...

Infrastructure : CNAIR contracts another 11 km of Bucharest ring road

Tuesday, March 10, 2020

Romania’s public road construction and management company CNAIR signed with Italian construction company Tirrena Scavi a contract for the reconstruction works on a segment of 11 km of the Bucharest ring road, in the eastern part of the city. The segment will be widened from 2 lanes to 4 lanes (two for each ...

Tourism : Occupancy rate for some hotels in Bucharest plunges to 20% amid Covid-19 concerns

Tuesday, March 10, 2020

The cancellation rate for some hotels in Bucharest reached up to about 80% amid concerns related to the Covid-19 virus, while their occupancy level dropped to 20 - 30% according to Wall-Street.ro ...

STUDY: The restaurant market in five of the largest cities in the country reached 14.1 billion lei in 2019

Tuesday, March 10, 2020

The total sales of cooked food, including the deliveries through ordinary restaurants, fast food restaurants, canteens, pubs and supermarkets, in five of the largest cities in the country (Bucharest, Timisoara, Iasi, Cluj and Brasov) rose in 2019 to RON 14.1 bln (almost EUR 3 bln), which is roughly twice as much as the RON 7.2 bln sales in 2018, according to the National Foodservice Research report drafted by Hospitality Culture Institute, the first independent research, ...

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