Real estate experts forecast increase of older flats’ prices

The Romanian urban flats are currently valued at a realist price that will grow 10% yearly, in parallel with the new buildings’ prices, the sales manager with Eurisko company Ionut Bordei stated for Hotnews.ro. The Regatta residential sales manager Robert Teodorescu has the same opinion as long as the request is bigger than the offer.

Some real estate experts say that the older flats’ prices will go down in the view of the increasing number of real estate new projects but also due to the upcoming accession to the EU.

Following the ascendant trend and the market conditions, Bordei estimates that prices will not decrease, not even stagnate, as the older flats’ prices will be agreed with the new residents’ costs. Teodorescu also reckons that the new projects will influence the real estate market and will lead to an increase in prices of the flats.

Eurisko sales manager complains that there is no legal framework for the bank loans regarding the projects under construction but only for older or completed apartments and for the house building.

As far as the new residential complexes are concerned, the buyers are between 25-40 years old, with an average salary that ranges between 700 – 2000 Euros/ family. In Bucharest, the average salary is 350 Euros, hence around 700/family, but it is still a low sum for a four-room apartment.

The request for apartments is not to be covered in the coming five years as 30,000 apartments will not suffice.