Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. The evolution of villa sales in Bucharest: Opportunities...

The evolution of villa sales in Bucharest: Opportunities and challenges in 2024

September 19, 2024

In Bucharest's real estate market, the northern house segment remains one of the most dynamic and attractive, especially given the continuous increase in villa demand. Despite the challenges posed by high construction costs and a decreasing offer, the demand for housing in this area is rising.

Price increases and market impact

In Pipera, an area of significant interest for villa buyers, the price of land has risen from 400 euro/sqm in 2022 to 1,000 euro/sqm in 2024. Even with considerable budgets, it is becoming increasingly difficult for clients to find land that meets all the criteria and expectations for a successful development.
"The high construction costs, rising land prices, and decreasing supply are putting pressure on house prices in the North of Bucharest. Many of those who were unable to purchase a property before the price increases, and who have a budget of up to 300,000 euros, are now forced to move to the areas near Bucharest, such as Tunari, Otopeni, or Corbeanca," states Aurel Ungureanu - Customer Relationship Manager - North Bucharest Investments.
In Tunari, Otopeni, or Corbeanca, land prices have also seen a spectacular increase: from 100 euro/sqm in 2022 to 250 euro/sqm in 2024 - for positions with good access and good facilities.

Demand for gated residential complexes

Gated community housing developments are an increasingly popular solution for homebuyers because of their social and security benefits. They become living spaces and ideal places to develop a community.

"This type of project is a good solution to develop a social life for adults and their children. The security and comfort offered by such communities are strong arguments in the purchase decision," states Aurel Ungureanu.

Premium real estate market developments

Despite rising prices, interest in premium-plus properties in the North of Bucharest continues to grow. Demand for villas priced over €500,000 and over €1 million is growing.

"The real estate market for premium and premium plus properties is growing. The interest and high number of sales of houses priced between 500,000 Euro and over 1 million Euro gives us clear signals that the luxury and super-luxury segment is growing steadily, being one of the most stable niches in the residential sector," Aurel Ungureanu adds.

The Pipera-Voluntari area remains one of the most attractive for villa buyers, especially due to its proximity to prestigious schools, easy access to the Bucharest ring road and the A3 highway, and already-formed communities. Areas such as Erou Iancu are particularly popular due to their access to these facilities.

Increasing sales in 2024
Since the beginning of 2024, North Bucharest Investments has seen a significant increase in home sales, more than doubling compared to the same period in 2023.
"This positive development reflects the growing interest in villas in the North of the Capital despite economic challenges and rising prices. The real estate market in the North of Bucharest continues to offer interesting investment opportunities, especially in the segment of houses and villas", explains the Client Relationship Manager - North Bucharest Investments.
In conclusion, although land prices and construction costs are rising, demand remains robust, and the investment potential is promising, especially in areas such as Pipera-Voluntari and its surroundings.

The information provided by KomuniK

The text of this article has been partially taken from the publication:
https://komunik.ro/the-evolution-of-villa-sales-in-bucharest-opportunities-and-challenges-in-2024/
Read in full - click here
EUR 60,000 shelter in Romania's Făgăraș Mountains to be completed this autumn

A mountain shelter is scheduled to open this fall in the Făgăraș Mountains' Curmătura Bratilei area following a EUR 60,000 investment. The shelter, located at an altitude of 2,100 meters, is built by the private ophthalmopediatric hospital Infosan in partnership with the non-profit Carpați Mountain Association and the Brașov Emergency Situations Inspectorate (ISU Brașov). The […]

Trailer released for ‘The Yellow Tie’ biopic on Romanian conductor Sergiu Celibidache

The official trailer for The Yellow Tie/Cravata Galbenă, a major international production about the life of renowned Romanian conductor Sergiu Celibidache, has been released, with the film set to hit cinemas nationwide on November 14. The cast includes John Malkovich and Miranda Richardson, both double Academy Award nominees, along with Ben Schnetzer, Kate Phillips, Sean […]

Romania’s cancelled 2024 presidential elections influenced by Russia, general prosecutor says

The presidential elections held in November 2024 in Romania were influenced by a large-scale hybrid war orchestrated by Russia before they were cancelled, according to general prosecutor Alex Florența. Romania’s presidential election was annulled last December after declassified reports alleged Russian involvement in cyber activities aimed at undermining the integrity...

Maia Sandu, Donald Trump top list of world leaders most trusted by Romanians

Maia Sandu, Donald Trump, and Emmanuel Macron are the international leaders who enjoy the greatest trust among Romanians, according to a poll conducted by Avangarde. The survey, carried out between September 8–14, shows Romanians’ perceptions of the country’s direction, international political leaders, global institutions, and certain foreign policy topics.  The opinion poll revealed that the world […]

Former presidential candidate Călin Georgescu sent to trial for complicity in attempted coup in Romania

Former presidential candidate Călin Georgescu was sent to trial on charges of complicity in an attempted coup, alongside alleged paramilitary leader Horațiu Potra and 20 other people, Biziday.ro reported. He also allegedly benefited from hybrid warfare operations coordinated by Russia during the country’s 2024 presidential election crisis. Romania’s presidential election

The Tour of Romania ended with a real cycling celebration in the center of the Capital

A caravan of 150 cyclists, 90 cars and 25 motorbikes covered 830 km at the Tour of Romania, the most important local cycling competition, organized between 10 and 14 September by the Romanian Cycling Federation, together with the National Agency for Sports and Auchan Romania, the main co-organizing partner. In addition to the elite sports […]