EUR 1 bln worth of housing units to be delivered in Bucharest during 2020-2023
The aggregate volume of the ongoing real estate investments in Bucharest, on all sub-segments, is EUR 3.5 billion.
Residential projects in the middle and upper segments amount to EUR 1 bln, according to Bucharest Real Estate Club data.
The sum includes 60 projects, some of which were completed in 2020, while the others will be delivered by 2023.
The National Real Estate Cadastre Agency data reflects a residential sales volume higher by 19% in 2020 compared to 2019, despite a two-month lockdown at the beginning of the pandemic.
According to the Bucharest Real Estate Club analysis, the area that keeps on attracting most of the investments in quality projects is the Northern part of Bucharest, with its submarkets Barbu Vacarescu-Floreasca, Aviatiei, Pipera, Baneasa, Expozitiei, Sisesti-Straulesti.
With Eurostat data reflecting a 45.8%, almost half of Romania's population living in overcrowded dwellings, the Bucharest Real Estate Club concludes the market for new residential developments continues to show high potential.