“Most investors on the residential market are local entrepreneurs, who were faster to adjust to the realities of the market after the economic crisis that started in 2008,” says Georgiana Cailean, CEO of real estate consultant Coldwell Banker Romania.
About 25 projects with at least 200 apartments each were under construction in 2018 compared with 13 in 2017.
“The number of projects with at least 1,000 homes under development doubled, too.”
Petre Niculae, Gheorghe Iaciu, Dan Sucu and Valentin Visoiu are but some of the names positioned among the top real estate entrepreneurs in the past few years, considering the number of homes delivered in Bucharest and in the surrounding areas. They and several other investors have put about 20,000 homes on the map of Bucharest and the satellite towns in the past few years, ZF has found. ZF analyzed previous data it had and estimates, because not all developers have publicly revealed the number of homes they have invested in so far.
(English version by Loredana Fratila-Cristescu)