Real estate market facing difficulties

Thursday, Jan 17, 2013 | Post by TudorEstates

Developers sell 2-5 new apartments per month and have 10,000 units available

Real estate developers have sold on average 2-5 units per month, thus 10,000 new apartments are available for sale in Bucharest, most of them targeting high and very high income people, according to a study of The Advisers/Knight Frank. The new dwellings stock has reached 24,250 units, with 850 apartments launched in the first part of the year, in seven projects. Most deliveries were made in projects present on the market, developed in stages, such as Cosmopolis, FeliCity, Militari Residence and NewTown Residence. Even if four years have passed since the financial crisis started to have impact on the Romanian market, the real estate activity keeps facing difficulties, thus 25% of the dwelling stock is unsold, if we take into account only the apartments sold directly by developers. Under these circumstance the developers have started to adopt \"creative marketing strategies and introduce various options for buyers, such as the schemes \"you rent and then you buy\" or \"you move now and you pay in one year.\"

Related Articles