The increase of VAT to 9% will lead to a price increase, while buyers have a growing interest in green homes, concluded speakers of the residential panel of SEE Property Forum 2023, held in Bucharest recently.

Adi Steiner, Managing Partner of STC Partners spoke to Property Forum about the developer’s new residential project in Bucharest and new investment opportunities being explored nationwide, as well as the increasingly sophisticated requirements of home buyers, with a focus on sustainability.

STC Partners has reached a 50% sale rate for the first phase of its residential project Quartier Azuga, which is under development in Bucharest. 

Romania’s property sector has more liquidity and deals are taking place across sectors, although the country is not in a late stage of price discovery, concluded speakers of the dealmakers panel at the Spring Networking Party 2023, organised by Property Forum earlier this month in Bucharest

Romanian developer STC Partners has secured bank financing from Banca Transilvania for the first phase of Quartier Azuga residential project in Bucharest worth €6 million. 

STC Partners will invest more than €20 million in a new residential complex comprising over 200 apartments in Bucharest. The first development phase of Quartier Azuga will kick off in October 2022 and is slated for delivery in the first semester of 2024, while the entire project should be completed in early 2025. Crosspoint Real Estate has been appointed exclusive sales agent.