“The residential market in Romania is going through its best time in its modern history. As estimated, 2019 was the best year for the market ever, with record deliveries after 1989 in both the country and in Bucharest and around it and 2020 could bring new records,” said Andrei Sarbu, CEO of real estate consultant SVN Romania.
“We estimate up to 17,000 units could be delivered in Bucharest and Ilfov, depending on how fast developers complete their projects and have them connected to utilities.”
Last year saw 67,512 new homes delivered in the entire country, 13% more than in 2018. This was also when the highest growth in the number of new homes delivered after 2008-2009 was recorded, according to the National Statistics Institute. Deliveries of new homes stood at 67,255 in 2008.
Over 14,800 new homes were delivered in Bucharest and Ilfov last year, 32% more than 2018, the highest growth after the 42% recorded in 2013.
(English version by Loredana Fratila-Cristescu)