ARTICLES LABELLED WITH TAG residential

House prices in Romania went up by 2% in the fourth quarter of 2020 compared to the same quarter of the previous year, while across the European Union (EU) the average growth rate was 5.7%, according to Eurostat.

Nova Imobiliare, the owner of Colosseum Mall in Bucharest, plans to add a residential component near the retail project. 

Between 2010 and the second quarter of 2011, house prices and rents in the EU followed similar paths. Since the second quarter of 2011, they have followed very different paths: while rents increased steadily throughout the period up to the fourth quarter of 2020, house prices have fluctuated significantly, Eurostat data reveals.  

Construction works have started on the second phase of the Park West project of Wing's residential development division, Living, as announced in September 2020. Park West 2 is expected to be handed over at the end of the first half of 2023.

Real estate developer Hanner has inked a partnership with a restaurant operator that will join the Fosta Fabrică mixed-use project, located near the Gara de Nord railway station in Bucharest. The company will invest over €40 million in the complex project, which includes the restoration and conversion of four monument buildings. 

The accelerated growth of work from home arrangements has generated a new market for office space that can be leased directly by companies that have ongoing rent contracts for bigger surfaces. At present, around 70,000 sqm is available for sublease, which is a record figure for the Romanian market, according to representatives of JLL. 

The average asking price for an apartment in Romania stood at €1,379 per sqm in March, up 1.5% compared to the previous month, according to a report by real estate portal Imobiliare.ro. 

Just one month ago, we reported that February 2021 had been the strongest month for the past ten years with regard to the number of transactions in the Hungarian housing market. It now appears that the record was short-lived as there were 15,630 residential property deals nationwide in March according to the latest monthly transaction estimate of real estate group Duna House. The figure is more than 1,000 higher than in February.

Polish developer Cavatina Holding, which has been active in the regional cities of Poland, has recently announced plans to go public. Rafał Malarz, CEO of the company talked to Property Forum about investing in large mixed-use projects, the future of the PRS sector in Poland, possible changes in the retail and office markets and shared some details about the upcoming IPO.

Prima Development Group started in January the works of the Arena Residence residential project in Oradea. The project with 1,226 apartments will be completed in 2024 and the total investment amounts to €65 million.