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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Report: 8% more housing units to be delivered in Bucharest this year

The residential market in the Bucharest metropolitan area is expected to rise by 8% to a new record of 16,000 new housing units this year, according to a report of the real estate consultancy firm SVN Romania.

Meanwhile, over 9,000 new apartments and villas are under different development stages, with delivery dates announced for 2021, according to SVN Romania.

The mass-market segment accounts for the bulk of the new deliveries in 2020, amid significant development of residential poles in the city's western and southern areas.

The low interest rates, rising wages, and only moderate rise in the price of properties have resulted in the best purchasing power ever, SVN experts explain.

Thus, the price of a new one-bedroom apartment (50 sqm net surface, 1,350 EUR per sqm) in Bucharest was the equivalent of less than 100 medium monthly wages at a national level (EUR 677) - or a period of 8.3 years.

The average salaries in Bucharest are significantly above the national average. As a result, 75% of the housing units are already sold before completion.

About 8,500 new dwellings were delivered in Bucharest and Ilfov county in the first six months of 2020, up 32% compared to H1 2019, according to the National Statistics Institute (INS), the first half from 2020 being the best in recent years.

(Photo: Pixabay)

[email protected]

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Report: 8% more housing units to be delivered in Bucharest this year

The residential market in the Bucharest metropolitan area is expected to rise by 8% to a new record of 16,000 new housing units this year, according to a report of the real estate consultancy firm SVN Romania.

Meanwhile, over 9,000 new apartments and villas are under different development stages, with delivery dates announced for 2021, according to SVN Romania.

The mass-market segment accounts for the bulk of the new deliveries in 2020, amid significant development of residential poles in the city's western and southern areas.

The low interest rates, rising wages, and only moderate rise in the price of properties have resulted in the best purchasing power ever, SVN experts explain.

Thus, the price of a new one-bedroom apartment (50 sqm net surface, 1,350 EUR per sqm) in Bucharest was the equivalent of less than 100 medium monthly wages at a national level (EUR 677) - or a period of 8.3 years.

The average salaries in Bucharest are significantly above the national average. As a result, 75% of the housing units are already sold before completion.

About 8,500 new dwellings were delivered in Bucharest and Ilfov county in the first six months of 2020, up 32% compared to H1 2019, according to the National Statistics Institute (INS), the first half from 2020 being the best in recent years.

(Photo: Pixabay)

[email protected]

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