News

Residential property in Bucharest
Imbalance between supply and demand
Requirement - 5000 additional housing units per year

Bucharest needs at least ten thousand new houses for the market supply / demand to be balanced, say the specialists on the real estate market.

Companies intend to launch several hundred finished houses by the year-end. Those intending to buy a one-room flat or an apartment have several offers to choose from, such as the Trend Imobiliar portfolio, which is to put on the market several apartment buildings by half year in areas such as Politehnica, Turda, Herastrau, Otopeni, Bucharest-Targoviste, Unirii.

The price of a one-room apartment is between €40,000 euros and €90,000 euros, whilst larger apartments range between €50,000 euros and €240,000 euros.

Triumf Construct shall provide some 130 apartments in the Bucharest Noi area in September, at prices ranging between €50,000 euros and €61,000 euros. The offer for villas is wider, with options for less popular areas such as Berceni or Giulesti, but especially in areas such as Mogosoaia, Corbeanca, Otopeni, Baneasa or Bucharest Noi.

A square meter of a built land is ranging between 400 and 1,200 euros. In Giulesti the price of a villa is between €90,000 euros and €150,000 euros, in Otopeni the same villa is offered for €250,000 euros. "Paradisul Verde" in Corbeanca would have by year-end 300 villas of brick construction and 100 ecologic houses on small weight structure (wood isolated with mineral cotton). The price of a villa in this area could reach to €500,000 euros, with the ecologic construction adding up to 35 per cent to the price. In the Tunari-Pipera area (the "American Village") 31 villas will be ready in August, of which 20 have already been contracted. 163 houses are to be built here by 2007. Such a villa is ranging between €158,000 euros and €270,000 euros.
Adevarul, March 17, 2005