Bucharest City Center to 1 Mai Square / Victoriei Square areas are in residential developers` hot pipeline in the next period, according to a Crosspoint Real Estate Research on the most recent residential development trends and investors` appetite.
Demand for new residential is exceeding delivery at the moment, as a certain category of buyers are either attracted of the city center natural charm or are interested to acquire residential units for investment, says Mihai Dumitrescu, Managing Partner, Crosspoint Real Estate. “In order for new developments in Bucharest city center to register a fast absorption rhythm on the market, the price of a new quality project should not be higher than 1.800 EUR /net sqm”, states Mihai Dumitrescu.
City Center Residential Facts & Figures:
- Average sale price: 2.100 EUR / net sqm
- 2 and 3 rooms predominant, as fastest absorbed by the market
- Parking prices continue to maintain high, due to the lack of spaces in city center – between 12.000 – 20.000 EUR
- Few options in central areas, at the moment, for fully detached layouts (apartamente decomandate), or at least apartments where night area is separated from the day/ living area