Developers are building 6,500 housing units in Northern Bucharest

Over 6,500 residential units are under development in the Northern area of Romania’s capital Bucharest that are due to be delivered on the market in 2019 – 2020, according to a study released by real estate consultant SVN Romania.

About 60% of the new dwellings are located in the Aviatiei – Pipera area, which also hosts Bucharest’s busiest office hub. Some 2,400 new units are due to be delivered in this area in 2019 alone while another 1,500 new residential units are due to be delivered in 2020.

“Even though many of the houses that will be delivered in the area this year are already pre-sold, we can observe a clutter on the supply segment, especially in the coming years. The location in the vicinity of an office building and in the northern area of Bucharest is no longer the only guarantee that developers will register the expected results. The potential exists but investors need to carefully make their business plans sound and to offer superior quality products; we still see, for example, wrongly positioned projects on the market,” said Andrei Sarbu, CEO SVN Romania.

According to company data, some 6,000 more new units are under planning to go under development starting 2020-2021 in Floreasca – Aviatiei – Barbu Vacarescu – Pipera, areas.

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