Real estate developers will deliver in 40% more new housing units in 2019 compared to 2018, according to data from real estate consultancy firm Imoteca – The Residential Experts. The deliveries will thus reach 14,000 units, up from 8,500 in 2018, according to data from developers.
There are currently 100 big and medium residential projects under construction in Bucharest and Ilfov, which are the areas with the most residential transactions in Romania, according to Imoteca.
According to the firm, volume projects have reached almost the same share as mass-market projects, namely 45% compared to 50%, with the remaining 5% represented by luxury projects.
Volume projects are located in Bucharest residential areas, close to public transport, have accessible prices and are dedicated to clients with medium and medium to high revenues. Meanwhile, mass-market projects are big projects located at the city’s outskirts, which are also accessible to clients with lower revenues.