Home sales in Bucharest hit record this March
The number of housing units sold in Bucharest hit the record level of 5,200 this March - not surprisingly well above the 3,300 in March 2020 (half of the month under lockdown) but also compared to 3,600 in March 2019.
The month of March this year was the best of the past five years in the residential segment, with a record of transactions in each of the top five regional residential markets, according to SVN Romania, based on data from the National Agency for Cadastre and Real Estate Advertising (ANCPI), quoted by Ziarul Financiar.
The top five regional markets are Bucharest - Ilfov, Cluj-Napoca, Constanta, Timisoara, and Brasov. The transactions are reported at the county level, but the SVN data show that the county capitals, together with the neighboring localities, attract between two-thirds and three-quarters of the total transactions.
"The residential market is going through the best moment in recent years, visible in the increase in the number of transactions and the delivery records," said Andrei Sarbu, CEO of SVN Romania. He also pointed to the interest rates and generally favorable financing terms.
Although it is not without risks and the competition is fierce, the investments made in the residential segment bring among the best returns at the moment, which could maintain in the future, SVN's CEO argues.