Developers happy to they sell 10-20 apartments per month

While developers are boasting if they succeed to sell several
tens of apartments in a quarter, another several thousands are
still out for sale, shows a survey drawn up by Colliers
International real estate consultancy, reads BUSINESS Magazin
magazine. At the beginning of the year, 9,000 apartments in
complexes with over 200 housing units were up for sale, with 3,000
of them initially acquired by investors. Another several thousands
are likely to be finalised this year and, given last year’s sales,
the stock to be created may be enough for many years from now on.
“Sales are weak on the new segment, only where there are
opportunities, where prices are not very high compared with the
prices of old homes in the same area. Also, housing units from
investors are selling quite well, because they have lower prices
than the ones from the developer of the same project,” comments
Valentin Ilie, CEO of Coldwell Banker Affiliates of Romania. The
amount of unsold apartments and the resale of apartments initially
acquired by investors will most likely prolong the current
situation, when the number of new residents in a finalised housing
complex is very low.