ARTICLES LABELLED WITH TAG residential

Romanian Vox Property Group has secured a loan of €10.5 million from CEC Bank that will be used for the completion of Vox Vertical Village luxury residential project in Timișoara. 

AFI Europe has taken stock of the results for 2021, a year in which it has been fully committed to implementing its new corporate strategy focused exclusively on rental housing. The company is currently constructing four buildings in three residential projects in Prague. It plans to complete the larger part of them this year.

2021 in the residential market in Poland was marked by a deepening imbalance between supply and demand. Developers put up for sale 11,000 fewer units than they sold. Buyers considered flats mainly as a safe capital investment. Had it not been for the pandemic, the slowdown that awaits the Polish residential market in 2022 would have arrived much earlier.

Duna House has released its monthly transaction estimate, showing that there were 10,815 residential property transactions in Hungary in January 2022. Although this corresponds to a 3.3% decline over the same month of 2021, it is in the same league as the first months of the years between 2017 and 2019.

Around 50,000 apartments were transacted on the Bucharest market in 2021, up 40% year-on-year, while some 67,000 new residential units were completed across Romania in the same period, according to a report by real estate consultancy Colliers. 

Romanian developer Forty Management expects a turnover of 397 million lei (€80 million) and a net profit of 188 million lei (€38 million) in 2022, while total investments in residential projects across Bucharest will reach 155 million(€31.3 million).

Prima Development Group has announced the completion of the Core Timpuri Noi residential project in Bucharest following an investment of €23 million.

Investment transactions on the Romanian real estate market could exceed the €1 billion threshold this year, considering the projects in various stages of negotiation, according to Colliers.  At present, there are several transactions in the pipeline worth at least €100 million each, and others are ready to go on the market

Romanian developer Eden Capital Development, which focuses on the Bucharest residential market, recorded total sales of over €90 million during 2021, at an average transaction of over €120,000 for an apartment.

Living, an umbrella brand of Wing specialising in residential properties, has completed the first phase of its Park West project offering 229 apartments in District 13 of Budapest. About 700 apartments will be constructed in the residential development project to be carried out in three phases.