Local company Glavbolgarstroy is building a new residential project named Ѕmаrt Тоwеr іn thе nеw buѕіnеѕѕ сеntre оf Ѕоfіа, іn thе аrеа оf Нlаdіlnіkа, nехt tо Раrаdіѕе Mall аnd Ѕоuth Раrk.

Local real estate developer Redport Capital, founded by Cosmin Savu-Cristescu, has announced the completion of 127 apartments in The Level Apartments project and the construction start for the new phase of the complex located in the Străulești area of northern Bucharest. 

Emma Toma, Head of Office Division at AFI Europe Romania, talked to Property Forum about the company’s investment plans in the office, retail and residential areas, as well as the solutions implemented in all projects in the area of sustainability.

The housing loan stock is now growing by only 1.2% in Romania, with the slowdown becoming noticeable starting with the second half of last year, while the number of apartment transactions fell by almost 30% in Bucharest and regional cities in the first five months of the year, according to Colliers. 

Skanska has launched the sale of the second phase of Modřanský cukrovar, which will offer 126 apartments in four residential sections. The developer is applying sustainability principles in the construction and the planned construction of the apartment buildings is approaching the passive standard in the highest PENB energy performance category - A. Each apartment will already draw energy from photovoltaic panels on the roof and will be able to use recycled water. The developer expects to start construction this winter with completion expected in 2025.

Brokers report a 30% drop in inquiries for purchasing a new home in Sofia. On an annual basis, the decrease in concluded deals is 15 %.

Doron Klein, the CEO of AFI Europe Romania and The Czech Republic, has been appointed as Deputy CEO of AFI Europe group, in addition to his current position. 

Proxenta's latest residential project, Kesselbauer, is being finalised these weeks. The luxury residence right in the centre of Bratislava has already completed all the construction works and only the landscaping in the courtyard remains. The project is now in the approval phase and the approval process is expected to be completed in a few weeks, real estate portal YIM.BA reports.

In 2023, the residential real estate market in Bulgaria is expected to remain calmer and more balanced than during the dynamic previous year. According to real estate agency Arco Real Estate, the forecast is for a slight cooling of interest due to factors such as inflation, the change, and the rise in mortgage rates, as well as the ongoing war in Ukraine.

On the occasion of Property Forum’s Living Investment Forum 2023 and under the umbrella of the RICS CEE residential working group, an online survey was conducted among large residential developers and management companies from Poland, the Czech Republic, Hungary and Romania with help from industry organisations and RICS professional network to get insight on what importance ESG considerations play in the residential sector in the CEE region. In the survey, 80% of respondents claimed that ESG is an important factor in their business decisions at the “strategy level”.