Coldwell Banker: Over 25,000 Homes Under Construction In Romania’s Main Cities

Over 25,000 housing units are under various stages of development and are due to be delivered in 2017 in Romania’s main regional residential markets, such as Bucharest – Ilfov, Cluj – Napoca, Sibiu, Brasov and Constanta, according to a study by real estate consulting firm Coldwell Banker Romania.

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Imaginea articolului Coldwell Banker: Over 25,000 Homes Under Construction In Romania’s Main Cities

Coldwell Banker: Over 25,000 Homes Under Construction In Romania’s Main Cities (Image: Silviu Matei/ Mediafax Foto)

The biggest residential market in Romania is the Bucharest– Ilfov region, where some 12,000 housing units are currently under development in residential projects due to be delivered in 2017, provided real estate developers observe their commitments. Most of them, namely, 7,200 units (59.5%), consist of mass market homes, namely, residential projects located on city outskirts or inside big districts.

2017 also confirms the consolidation of the middle market segment. Some 4,500 homes, included in residential projects with a better location, are due to be delivered in 2017. Additionally, some 500 premium and luxury homes are due to be delivered in 2017, in Bucharest and its environs. In 2016, a total 10,022 homes were completed in Bucharest – Ilfov region, according to the National Statistics Institute.

Average trading prices range between EUR800 and EUR1,000 per square meter on the mass market segment, between EUR1,200 and EUR1,700 per sqm on the middle market segment and over EUR2,000 per sqm on the premium segment.

Over the last years, Sibiu saw a significant growth on the residential segment due to demand triggered by the regional development on the car parts production, industrial and retail segments. Thus, some 2,900 units are to be completed in the region, in 2017, according to Coldwell Banker Romania.

Some 2,100 residential units are due for completion in 2017, in the city of Brasov and its environs, 10.5% more on the year.

The city of Contanta is one of Romania’s biggest residential markets, with over 15,000 homes completed in the last nine year, according to the statistics institute.

The cities of Iasi and Timisoara see deliveries of over 1,000 new homes in residential compounds, annually, while Craiova, Oradea and Pitesti are the cities boasting the highest growth among regional markets, with annual deliveries below 1,000 new homes.

Coldwell Banker Romania provides consulting, brokerage and real estate property management services on all market segments: residential, office, industrial, land and investments.

 

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