Residential sales in the Bucharest and Ilfov area were only 3.8% smaller in Q3 2023 than those registered in Q3 2022, which was a record year, according to a SVN Romania report.
The volume of new mortgage loans in Romania rose by 10.2% to 2.5 billion lei (€506 million) in H1 2023 compared to the same period of last year, of which refinancing operations had a 25% share, according to a report by SVN Romania | Credit & Financial Solutions.
Romanian property company Grand Development, founded by Ionuț Nicolescu, is investing over €12 million in the development of Montebello Transylvania Resort, a project comprising 47 chalet-style villas near Brasov. The first phase of the development is slated for completion in November 2023.
Around 19,000 homes could be delivered in Bucharest and its surroundings this year, down 11% compared to 2022, while over 8,000 homes are at this moment in different development stages and could be delivered in 2024 and 2025, according to real estate consultancy SVN Romania.
Romanian developer Redport Capital is planning a residential complex with more than 1,000 homes on the land plot of 44,000 sqm that was recently purchased in northern Bucharest alongside local furniture market Mobexpert.
Over 52,000 homes were sold in Bucharest and its surroundings in the first ten months of 2022, up 9.16% compared with the similar period from 2021, according to data published by the National Agency for Cadastre and Land Registration.
Romanian construction group Bog’Art has completed the development of its own luxury residential project Art City in northern Bucharest, which is valued at more than €20 million.
Sales of homes on the Romanian market totaled 85,000 units in the first half of 2022, up 3.4% compared to the same period of last year, according to real estate consultancy SVN Romania. In the same interval, sales in Bucharest and Ilfov county rose by 16.6%.
Local real estate developer Camicna Development has started the construction of Acmanic, a boutique luxury residential project worth €25 million that includes 51 duplex apartments.
Over 27,000 new homes are under construction in Bucharest and its surrounding areas, which is the largest number in the modern history of the local residential market, according to real estate consultancy SVN Romania.
Confectionery Batida has joined the tenants of the LIXA City Gardens retail concept that is being arranged in the LIXA office complex near the Daszyński Roundabout in Warsaw.
Vileda expanded its office located in MyHive IO-1 in Warsaw, owned by CPI Property Group, to 712 sqm. Przemysław Urbański from Avison Young Poland supported Vileda in the negotiation process.
The LUX MED Group extended a 2,200 sqm lease agreement in the O3 Business Campus in Kraków managed by EPP
New appointments
Axi Immo is developing its Capital Markets Department. As of November 2023, Jakub Grabara was appointed as Associate Director in the Capital Markets Department. He will be responsible for transactional services, i.e., acquiring, purchasing, and selling commercial real estate.
Romanian developer ARQA has named Alexandru Rădulescu as Chief Sales Officer. During his career, he has overseen the sale of 17 residential and mixed-use projects.
Multi Corporation appoints Ola Zajac as New Business Ventures Manager. Ola will be looking for new business expansion strategies and venture capital investment opportunities across Europe and will be based out of Lisbon.
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