Of the homes under construction, approximately 21,000 dwellings could be delivered in 2022 if the pace of developing, registering and reporting the residential units completed is maintained. This result will be similar with the one registered in 2021, when a new record of housing units delivered was set in Bucharest and the surrounding Ilfov County, respectively, 22,010 new homes, in line with data from Romania’s Statistics Institute INS.
Most of the new homes have already been pre-contracted, but there is also a large number of new projects, some with over 1,000 homes, whose construction began in 2022 or will start in the immediate period.
”The residential market proved its resilience during the recent period and continued to register increases according to official statistics, both in the first two pandemic year and also in the last weeks. Carefully designed projects and with specialised sales teams will continue to register good results in the next period. 2022 has the premises, analysing the current data and indicators, to be a new year with satisfactory results for the Romanian residential market”, stated Andrei Sarbu, CEO of SVN Romania.
The number of homes sold in Bucharest and Ilfov increased by 16% in the first three months of 2022 compared with the same period in 2021, as per statistical data from the national cadaster agency ANCPI.
If 2022 started with a slight decrease of 0.5% in home sales in Bucharest and its surroundings, in January compared with the same month in 2021, February brought an annual increase of 20.1% in home sales and March brought an increase of 24.6% compared to March 2021, despite the international context. This result can be deemed even better as almost every month of 2021 – except October – set an absolute record for homes sold in and around Bucharest, according to ANCPI data.
Home deliveries in Bucharest and its surroundings increased by 5.6% in 2021 compared to 2020, as per INS data. At the same time, the number of residential units sold in the region was almost 37% higher compared with the level in 2020, ANCPI data also shows. Also, home sales increased by 48.7% at country level compared to 2020, the SVN report also reads.