The real-estate developers’ offer presented at the tIMOn National Real-estate Fair in Bucharest on October 21-25 have a market value of over EUR 1 bln, consisting of over 20,000 new homes.
At a moment of recovery for new constructions in Romania, tIMOn proposes 250 residential real-estate projects, 30 of them presented exclusively at the Fair, in an exhibition area of 2,900 square metres.
This edition’s attractions include metallic framework homes as well as the first green energy residential centre in Romania.
“We are noticing optimism on the part of developers in what concerns the Romanian market. After a period of analysis and adjustment of investment plans to the new market conditions, they are proposing projects that are far more adapted to local demand from the point of view of locations, surface areas and prices. The growth of purchasing power, the slight recovery of crediting but also the measures meant to encourage the purchase of homes, measures such as the First House programme and the VAT of 5 per cent on homes with values of up to RON 450,000 starting in 2016, are encouraging factors for new residential investments,” tIMOn National Real-estate Fair Director Vlad Vlasceanu stated.
Real-estate developers believe that the market is on a continuously upward trend but “the prices registered during the period of real-estate boom will no longer be reached.” While two-room apartments were the most sought-after this year, given the raising of the cap for the 5 per cent VAT that will be applied starting in 2016, three- and four-room apartments will be the most sought-after next year.