Bucharest Dwelling Prices Deter Clients From Purchase - Coldwell

Over 5,000 potential buyers are looking at the residential offer in Bucharest, but the main deterrent consists of the asking prices, according to Coldwell.

"Many potential buyers find a piece of property they would like to buy, but they postpone the purchase, seeking a better offer," said Alexandru Pricop, managing partner at Coldwell Banker's Banu Manta branch, one of the company's nine branches in Bucharest.

According to the consultants, approximately one third of demand on the Bucharest market consists of clients with immediate demand, namely people who have their budget set up and who have a choice among several pieces of property, significantly aware of the available offers.

The other segment of demand is formed of "tomorrow's potential buyers", who are not feeling immediate pressure to move, have no clearly set up budgets and are not aware of the type of property or area they seek.

"The decline in prices, from the peak seen in 2008, has brought a 30% increase in demand," Pricop said.

Coldwell Banker Affiliates of Romania provides consultancy, brokerage and management services for real estate on all market segments: residential, industrial, offices, plots and investment. The company currently has 13 branchs, namely nine in Bucharest and four in the cities of Arad, Brasov, Campulung and Piatra Neamt.

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