Coldwell Banker: 2015, best year for Romania’s residential market

This year will be the best one for Romania’s residential market, with over 10,000 homes due to be completed by the end of the year, said Gabriel Voicu, director of the new homes division at real estate consultancy form Coldwell Banker, at a conference organized by Wall-street.ro. The prices have stabilized in the last 11 months, which has brought back the end user’s confidence. “The clients have been supported to return to the market through banks’ financial products, and not only through the First House program. In 2015, end users make 90% of the market. This is a healthy market,” said Voicu. Nevertheless, the First House program remains the growth engine for the residential market. The apartments’ prices will mostly remain the same in the first part of 2016, but in certain areas the prices could still go down. Most new residential projects are developed in the south of Bucharest, namely 27% of the total projects, followed by the east of Bucharest. editor@romania-insider.com