Developers now sell between three and 20 apartments per month

Whereas two years ago developers were boasting sales of hundreds of apartments before the beginning of construction works, now they sell between 3 and 20 apartments every month.

The price decline and the freeze of a large number of projects have led to a slight rise in the number of apartments sold in newly-completed projects, with around 330 apartments being sold within nine real estate projects in Bucharest since the beginning of the year, around six apartments per month in every project, reveals a ZF analysis.

The rate differs based on where the project is located and on prices. Whilst developers of the Rasarit de Soare project in Titan district say they sold 100 apartments this year, with prices starting from around 40,000 euros, Asmita Gardens sold 19 apartments since the beginning of the year, but prices start from 125,000 euros for two-room apartments.

“35% of Asmita apartments are still available, with 95% of the apartments built in the first stage of the projects being already sold and moved into. The sales pace has increased significantly against last year. For instance, a record seven apartments were sold in April, as well as three upgrades (clients who opted for a bigger apartment than originally contracted) worth an overall one million euros. We sold another three apartments in May, and four apartments in June so far,” says Atena Tiplic, sales manager of the project on Splaiul Unirii, where around 270 apartments are still available.