Some 14,000 new homes to be delivered in Bucharest this year

Bucharest will see about 14,000 new homes delivered this year, up by 25% year-on-year, according to a report of real estate agency Coldwell Banker Affiliates of Romania. The capital recorded a number of 11,000 completed homes last year, surpassing the pre-crisis volume of new buildings. The absorption rate will amount to about 75% this year. It doesn’t take more than nine months to sell the new homes, said Gabriel Voicu, senior director of New Homes within Coldwell Banker Affiliates of Romania. The mass-market homes have a share of some 53.5% in the total number of new apartments in Bucharest. The luxury segment has a share of 7.5%. The low-market segment includes about 2,000 units. editor@romania-insider.com