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Bucharest to see annual residential deals of 20,000 units, says DTZ Echinox | | The Diplomat Bucharest
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Bogdan Nitulescu, Tremend
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Bucharest to see annual residential deals of 20,000 units, says DTZ Echinox

The Bucharest residential market is expected to reach a stock of 15,700 new units by the end of the year, according to the latest study carried out by DTZ Echinox, “Residential Market Overview H1 2011”

September 2011 - From the Print Edition

According to the study, the first six months of the year witnessed the delivery of 300 new apartments. With nearly 1,000 flats announced for completion in 2011, the new supply is significantly lower than the approximately 4,100 apartments finished in 2010.
According to DTZ Echinox estimations, the 20,000 units sold annually will remain fairly constant for the foreseeable future, while new apartments will count for about 15 to 25 percent on the medium term. The conclusion of the affordability analysis carried out by DTZ Echinox is that the average inhabitant of Bucharest cannot afford to buy the average home in the city. The reduced affordability is keeping the number of transactions at relatively low levels compared to similar European capitals. While Bucharest registered only 1,500 new apartment sales in 2010, other capitals in the region saw significantly higher volumes. Some 10,260 new residential units were traded in the Polish capital in the same interval, around seven times more than in Bucharest, while Budapest notched up 2.5 times higher sales, at 3,885 units.



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