About 2,000 residential units are under construction now, while three quarters (76%) of real estate projects in Romania are no more than 4 stories high. “More of half of real estate investments in Romania (57%) are in the stage preceding construction – obtaining building license – a month after the beginning of war in Ukraine,” according to an analysis made by Faraagentie.ro. The analysis shows there are question marks about inflation, the price of building materials, as well as the effects of more expensive credits in Romania. We will see how the construction market will evolve, considering that most residential investments will begin in 2023 or 2024. Thus, about 2,000 ensembles are under construction now, that is 28% of projects analysed. The company analyzed the market of new residential units to see the main tendencies in the market. The analysis includes 6,403 building sites which represent constructions of residential ensembles and apartment buildings. Three quarters (76%) of real estate projects in Romania are no more than 4 stories high. They are easier to build and do not involve the complexity of higher buildings. Another explanation is the fact that in many urban areas these investments get licenses from developers more easily. At country level, IBC Focus identified 439 residential projects at least 10 stories high. Top 5 cities where the highest residential buildings are being built are : Bucharest (175), Constanta (42), Brasov (35), Iasi (33), Timisoara (27). “The fact that Cluj is not included in this top although it ranks first in the top of the most expensive apartments in Romania is interesting. More high residential projects are expected in this city in order to optimize the real estate investment by investors,” the company shows. The year 2022 remains uncertain in the area of residential investments considering the fact that there are many projects to be initiated. However, the fact that 13% of new ensembles in the construction stage are sold out before being completed is an optimistic argument. For instance, 33% of real estate ensembles in construction in Cluj are sold out. Besides the effects of war in Ukraine that can influence the demand for new houses, the biggest problem of real estate developers concerns the predictability of building costs when the rising price of materials and manpower in constructions, doubled by the higher prices in architecture dives headaches to investors and builders, he says. Also, there is a barrier coming in the legislative domain: obtaining building licenses and, according to areas, certain restrictions imposed more and more often by the authorities. Faraagentie.ro is a freemium project developed by IBC Focus where the developers' promotion is free and so is the customers' access when they try to buy houses. IBC Focus is a company set up 16 years ago, active in the market of building site and building projects monitoring in Romania.
The far-right opposition parties in the Romanian Parliament are set to file a motion of no confidence against the government headed by prime minister Ilie Bolojan. The motion, authored by senator Ninel Peia of the Peace – Romania First group, is specifically aimed at the reformist party Save Romania Union (USR), and is entitled “Romania […]
Romania's iconic rock singer Adrian Pleșca, known as “Artan,” died on Tuesday, December 2, after a fatal stroke, at the age of 64. The artist founded the well-known band “Timpuri Noi” in 1982 and “Partizan” in 2001, and was popular on the Romanian rock scene. Over the years, he left and returned to the two bands. Several […]
Elon Musk's mother, Maye Musk, re-shared a post about the Craiova Christmas Market on X on Monday, December 1. She described the event as "beautiful" and included three emojis in her caption. The original post highlighted that the Craiova Christmas Market was taking place in a safe environment. "No concrete barriers. No armed guards. No […]
Real estate developer Globalworth has begun construction on Green Court D, the fourth building in its Green Court office complex in Bucharest’s Aurel Vlaicu area. Scheduled for completion in 2027, the project is now in its preliminary phase, which includes enclosure works and excavation for the basement structure, the company said. The new building will […]
Romania’s National Committee for Emergency Situations decided to distribute drinking water from the state reserves to 13 localities in the counties of Prahova and Dâmboviţa. The area was severely impacted by a drop in water levels at the Paltinu Dam, leading to problems in the water distribution system and affecting over 100,000 people, local hospitals, […]
Rock star Marilyn Manson will return to Romania next summer to perform at Rockstadt Extreme Fest, organizers announced on Tuesday, December 2. He is among the headliners confirmed for the local rock and metal festival, which will take place from July 27 to 31 in Ghimbav, Brașov county. “For the first time ever, Marilyn Manson […]
