The prices for new apartments in Bucharest increased by up to 10-15% in the first half of this year, according to an analysis of the portal Directimo.ro.

The main reason behind the growth was the reduced offer due to developers’ difficulties in getting authorizations.

More than 100,000 new apartments are expected on the market, half of which come from top 15 developers, according to the analysis.

"After about 5 years of stabilization and moderate growth, there were price increases similar to those during the boom period. In the first half of 2017 we’ve noticed an average increase of 10-15% in prices, especially in the central, north and west areas,” said Matei Malos, Directimo co-founder.

The top 15 developers plan to build 54,450 apartments in the capital, out of an estimated total of over 100,000 new homes expected on the market in the coming years. The 54,450 apartments are distributed in 22 residential complexes. Most of the apartments will be located in northern and western Bucharest.

editor@romania-insider.com