The new residential projects attract mainly those people who already own an apartment in another new development but want an upgrade after the pandemic, says Michele Nusco, CEO and one of the shareholders of Italy’s Nusco group.
“Many decided during the pandemic that they wanted an upgrade and sold or are willing to sell and buy in another development,” Michele Nusco said.
More than 50% of Nusco’s customers are moving to Nusco City from other complexes because they want more amenities close to home, large green areas or a larger home, he added.
Nusco Imobiliara, the developer owned by the Nusco family, started a new residential project (Nusco City) in Pipera, Bucharest, where it also has a Pinum door showroom and a door factory.
Nusco City will include four buildings with 310 apartments at first.
Initial investments are put at EUR30 million to EUR40 million and should reach some EUR70 million, Michele Nusco said. When completed in ten years, Nusco City should include 3,000 apartments, he added.
(English version by Loredana Fratila-Cristescu)