ARTICLES LABELLED WITH TAG Crosspoint Real Estate

Homes buyers in Romania are increasingly asking for the 15-minute city, while prices of apartments will fall only in specific cases, concluded speakers of the residential market panel during SEE Property Forum 2022, which took place in Bucharest.

Property developer STC Partners has obtained the building permit for both phases of the Quartier Azuga residential complex, along with the Green Homes pre-certification and will start construction works for the first phase this autumn. 

Up to 20 new hotels are slated for delivery across the country by the end of 2023, of which six projects will be completed in Bucharest, according to a report by real estate consultancy Crosspoint Real Estate.

The property investment market in Romania totalled €518 million in the first half of 2022, up 30.5% compared to the same period of last year, with retail and office sectors driving deals, according to real estate consultancy Crosspoint Real Estate. 

MAD Planning & Projects has sold an office building in Bucharest to the University of Medicine and Pharmacy in Bucharest for an undisclosed sum. The building located close to the University Area is set to host a medical simulation center.  

Codrin Matei, Managing Partner, Head of Capital Markets at Crosspoint Real Estate spoke to Property Forum about the real estate asset classes that can attract new foreign investors and the high level of capital available for innovative projects. The agency has been generating growing revenues in the residential sector and expects business to grow in all commercial segments this year.

Investment activity in Romania’s property market totaled €98.6 million in the first quarter of this year, up 75% compared to the same period of last year, according to a report by real estate consultancy Crosspoint Real Estate.

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. 

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. 

Residential developer Apx Immo has taken over a land plot of 830 sqm in Cotroceni area from ICD Real Estate for €1.3 million.