Asking prices of apartments in Romania rose by 10.3% in the first nine months of 2021 compared to the same period of last year, with Bucharest and Cluj-Napoca remaining the most expensive markets for home buyers, according to a report by Imobiliare.ro portal. 

For the second successive quarter, developers have attempted to establish equilibrium between units sold and new units coming onto the market. Rising inflation continues to drive buyers to developers’ offices, with sales for the first three quarters of 2021 exceeding 2020’s annual total, says JLL. 

Property company Zacaria has kicked off the development of Valletta Park, a new residential project with 121 apartments in Sibiu. 

Resi Capital, PRS subsidiary of Cavatina Holding has bought an 11,590 sqm plot located on Tuwima Street in the New Center of Łódź area (Nowe Centrum Łodzi). JLL advised the vendor during this transaction.

Real estate consultancy Crosspoint Real Estate estimates that all 256 apartments in Vulcan Residence based in Bucharest will be sold by the second half of 2023. The agency is the exclusive seller of the project, which is NEPI Rockcastle’s first residential investment in Romania. 

As part of the restructuring of the Avestus Real Estate business, a new residential development entity, SHD Real Estate (SHD) has been established. The new company will continue to work on residential opportunities with a remit to develop across all residential sectors, including residential for rent and student accommodation. SHD will be operated and managed by the original Avestus Real Estate residential team based in Prague and they will be investing in opportunities across the country. Avestus will continue to focus on its existing commercial development portfolio, the latest project under construction being the Infinity office complex in Wroclaw.

Kassák Passage, the second phase of LIVING’s Kassák project, has reached its highest point. The project features 262 units and is located close to the Váci út office corridor. It is expected to be completed in the second half of 2022.

Property group NEPI Rockcastle, the biggest owner of shopping centres in Romania, says it has started the construction of its first residential project in Bucharest. 

Romanian property holding Meta Estate Trust says it has invested €500,000 in the first phase of residential project The Lake Home from Sibiu. 

Colliers is starting a new business line - Living Services - from the services offered so far by the Corporate Finance department. The new line will focus exclusively on projects in the living sector and will be offered to clients operating not only in Poland but in the entire CEE region.