Around 19,000 homes could be delivered in Bucharest and its surroundings this year, down 11% compared to 2022, while over 8,000 homes are at this moment in different development stages and could be delivered in 2024 and 2025, according to real estate consultancy SVN Romania.
The northern area of Bucharest will also attract the largest number of home due to be delivered in 2023, with about a third of the new supply. Across the city, over half of new homes will be in the mass market segment, while 41% will target the middle market segment. The premium and luxury segment will register in 2023 its best deliveries result from recent years, with an estimated level of 800 units, or about 4.4% of the supply.
”The supply is shrinking, both as a result of the new macroeconomic context and also due to difficult urbanistic regime, but the decrease is not that significant as we would have expected,” said Andrei Sârbu, CEO SVN Romania.
He added that home sales registered in Bucharest and its surroundings increased by over 56% in the last three years, compared to the pre-pandemic levels, according to official statistics.
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