Change of strategy: Real Estate Developers turn their eyes to the center of Bucharest
Andreea Comşa, Premier Estate Management: The pressure moves to the site, and the very well located plots will become more and more expensive. In terms of land availability, large cities in Romania still have well-placed industrial platforms which can be used, and where we will see large real estate projects in the future.
Real Estate Developers are reorienting to areas closer to the center of cities, to build residential projects, as some buyers are willing to pay more for a home just to be closer to their points of interest.
The Israelis from AFI Europe, the Spanish from Mantor, the entrepreneur Lucian Azoiţei are just a few of the investors who have announced that they already want or have started housing projects in central areas, after a long period when the construction sites were mostly in the areas surrounding the cities.
“For about two years, we are talking about a new generation of residential projects in Bucharest, but also in the big cities in Romania. One of the clear trends that is materializing is the emphasis on the site and thus we see many investments coming inside the big cities, even in their hot areas,” says Andreea Comsa, CEO of the real estate consulting company Premier Estate Management.Read entire article