”Bucharest will see a significant social and demographic change in coming years. More than 70,000 people already work in office buildings in northern Bucharest and their number is set to grow. Developers will build more and more projects for the middle class, in very good areas and with more generous surface areas, compared with the surface areas of housing units built on the outskirts,” Alexandru Pricop, managing partner at Coldwell Banker Affiliates of Romania.
Pricop also said more and more people who bought a home through the government-backed mortgage lending First Home program, between 2009 and 2012, will resort to an upgrade, in coming years, towards better areas, semi-central or in the northern part of the city, closer to the office buildings where they work.
Of the total number of units, some 2,200 housing units are destined to the middle class, and are located in the areas of Aviatiei and Baneasa, while nearly 25%, namely, over 700 units, are premium and luxury homes, located in the areas of Dorobanti, Herastrau and Barbu Vacarescu.
Overall, some 4,200 new housing units for the middle class will be delivered in 2016, in semi-central, central and northern Bucharest, according to data provided by Coldwell Banker Affiliates of Romania, accounting for 70% of over 6000 units under construction in the mentioned areas.
Coldwell Banker Affiliates of Romania operates on the local real estate consulting market, being manager and exclusive agent for over ten residential projects in Bucharest, among which, Cosmopolis, Felicity Residentials, MetroCity Academiei, Onix Residence and Politehnica Park Residence. In 2015, the company sold, directly from the developer, over 1,400 new housing units in Bucharest alone.