Romanian Property News

According to a market report produced by CB Richard Ellis in 2006, the Romanian property development market will continue to grow in 2007. Several projects are planned to be completed over the next couple of years in Bucharest: 

• Planorama residence, located in Colentina, will have an attractive asking price of only €850/sqm;
  The Noor and Edenia projects, both situated in Titan area, nearby the Titan park, will have an asking price of approx €990/sqm and €900/sqm;
• Asmita Gardens, located right in the heart of Bucharest, in Piata Unirii, will have a price of only €1,000/sqm. Based on current market trends, this is by far the best alternative in terms of price versus location.
• Pipera Residence, based in Pipera, will be priced between €750 and €900/sqm. As we mentioned in previous posts, the Pipera area is becoming one of the sought-after parts of Bucharest, being both away from the heat of the city but close enough for easy access.

The prices advertised for these developments are finally accessible to the medium-class market segment.  If currently the old flats are still attractive to the medium class, due to their prices (studio flat is currently sold for approximately €1200-1400/sqm), it is likely that these new property developments will become the new attraction and subsequently disappear quickly from the market as this time they are both cheap and good value properties, with prices accessible to the average earner. 

Last posts in Apartments

• Romfelt Plaza adds to the skyline of East Bucharest
• The Spring arrives in Western Bucharest in 2008
• Trident pinpoints south of Bucharest for affordable flats
• Otopeni Bridge comes close to both greenery and traffic
• Rental prices for studio flats in Bucharest – autumn 2007 statistics