Over 27,000 new homes are under construction in Bucharest and its surrounding areas, which is the largest number in the modern history of the local residential market, according to real estate consultancy SVN Romania.
Of the total number of homes under development, around 21,000 units could be delivered by the end of this year.
Most of these homes have already been pre-contracted and there are also a large number of new projects, some with over 1,000 homes, whose construction began in 2022 or will start in the next period.
”The residential market proved its resilience during the recent period and continued to register increases according to official statistics, both in the first two pandemic years and also in the last weeks. Carefully designed projects and with specialized sales teams will continue to register good results in the next period. 2022 has the premises, analyzing the current data and indicators, to be a new year with satisfactory results for the Romanian residential market,” stated Andrei Sârbu, CEO of SVN Romania.
The number of homes sold in Bucharest and Ilfov increased by 16% in the first three months of 2022 compared with the same period from 2021, according to the statistics of the National Agency of Cadastre and Land Registration (ANCPI).
