Romanian Property News

Bucharest, according to current world standards, is a rather small capital, both in terms of people and size, but current density figures (8074 inhabitants/square km) place Bucharest at similar levels with other European capitals. As you might be aware, the high number of blocks of flats makes virtually impossible any density increase, therefore the only solution is to increase the size of Bucharest. An ongoing initiative exists to expand Bucharest beyond its current limits. The project, named Bucharest Metropolitan Area, aims to include another 84 villages, eight towns, and two cities within the capital. You can see on the left a map detailing the size and shape of the Bucharest Metropolitan Area (click on it for a larger version); you could look for further details on the official website of the initiative (unfortunately all in Romanian).

What will the impact of this change be onto the housing market? Although difficult to predict all changes, this expansion of Bucharest should be considered as a very profitable alternative for potential small and medium investors, as both land and real estate developments within the newly declared metropolitan area are likely to increase substantially in price over the next period.

Road infrastructure is likely to be the biggest problem to keep the developers reluctant, as the current inbound roads into Bucharest are virtually blocked around 16-18 hours a day, making access into the centre of Bucharest virtually impossible. The project however includes plans for improving the commuting infrastructure and, more important, a considerable number of industrial and commercial developments are currently under way outside the current city limits. This implies that, in the near future, professional couples will not have to reach the centre of Bucharest when travelling to work, situation which is currently far from typical.

The list below includes all the villages, towns, and cities that will be included in the Bucharest Metropolitan Area. You might want to keep an eye on the names below, as they are likely to be the Romanian equivalent of London’s satellite towns (and reach comparable price tags).

1 Decembrie , Adunatii Copaceni , Afumati , Balotesti , Belciugatele , Berceni , Bolintin Deal , Bolintin Vale , Bragadiru , Branesti , Buftea , Bulbucata , Butimanu, Buturugeni , Calugareni , Cernica , Chiajna , Chitila , Cioplani , Ciorogirla , Clinceni , Colibasi , Comana , Corbeanca , Cornetu , Crevedia , Dascalu , Darasti , Dobroiesti , Domnesti , Dragomiresti Vale , Frumusani , Fundeni , Fundulea , Ganeasa , Glina , Gradinari , Gruiu , Iepuresti , Jilava , Joita , Magurele , Mihailesti , Moara Vlasiei , Mogosoaia , Niculesti , Ogrezeni , Otopeni , Pantelimon , Peris , Petrachioaia , Plataresti , Popesti Leordeni , Sinesti , Slobozia Moara , Snagov , Stefanestii De Jos , Tartaresti , Tunari , Varasti , Vidra , Voluntari.

We have already profiled a few developments from the above list, but we will come back to the villages and cities on the list and look at further projects.

As a final comment, aside from all the price increases that this expansion will bring, do not expect wonders, as big investors have already targeted the area, but it is likely that there is still considerable room for further growth.

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