Clients Buy Less, Rent More On Romanian Real Estate Mkt - EuroMetropola

The company’s consultants reckon that, whether it is for residential property, industrial land or offices and commercial space, clients are tough negotiators and their offers are as much as 70% lower than the price asked, citing the economic crisis as a reason.

 

Since there is a greater delay between the time when a property is advertised and its actual sale or rent compared to 2007-2008, owners are more likely to accept negotiating, even down to half of their initial demand. More and more apartment owners refuse to sell their property, while the number of rented flats has gone up by 40% since the beginning of this year, says the statement.

 

Real estate consultants say there are properties in Bucharest which have been on the market for 1-2 years without being sold, because the price asked was too high even for the time before the crisis. This is the case with plots in areas such as Calea Victoriei, Floreasca and Dorobanti, and townhouses in Primaverii and Dorobanti, whose owners staunchly refuse to negotiate.