Real estate investors migrate to Southern Bucharest

The price of land in the North of Bucharest is becoming higher and higher, although the interest of investors is expected to stagnate in 2008. Instead, they are beginning to favour areas in the South, East and West of the capital, according to real estate firm Eurisko. “Investors are focusing their attention on areas judged so far as having low yields. The South, East and West of the Capital, have the necessary space available for developing real estate projects at prices that are still affordable. Areas such as Sabareni, Tartasesti and Bragadiru (viewed previously as unattractive given their distance from Bucharest) are expected to become greatly sought after,” said Valeriu Ichert, manager within Eurisko’s Land Department. Another trend identified by Eurisko consultants is the heightened interest of investors for land located outside the Capital, especially in cities with over 100,000 inhabitants, where a large number of projects have already been announced.