Over 25,000 new apartments may be delivered in Romania this year

Over 25,000 new housing units are in various development stages and should be delivered this year in the main regional residential markets in Romania, according to the Residential Market Beat 2017 report made by Coldwell Banker Romania. The biggest residential market in Romania is the Bucharest-Ilfov region, where some 12,000 new houses are under development in residential projects and should be finalized this year if the developers stick to their commitments. Close to 60% of these houses (7,200 units) are mass-market, which means they are located at the city’s outskirts and offer smaller or similar surfaces as old apartments in Bucharest and limited facilities. Such apartments sell for EUR 800-1,000 per sqm. The middle-market segment will consolidate this year, with about 4,500 apartments in the making. These units have better locations, in semi-central areas, in northern Bucharest, or close to business centers. They also have slightly bigger surfaces and better finishes and sell for EUR 1,200-1,700 per sqm. Some 500 premium and luxury housing units will also be delivered this year in Bucharest, with prices over EUR 2,000 per sqm. The second biggest residential market in terms of new developments is Cluj-Napoca, with some 4,200 apartments to be delivered this year, followed by Brasov (2,100), and Constanta (1,400). editor@romania-insider.com