The volume of deliveries is expected to be similar to that in 2020, when Bucharest and its surroundings saw a new record of homes completed, despite the Covid-19 pandemic. Thus, 20,733 homes were completed in the region in 2020, some 40% more than in 2019, according to the national statistics institute.
The biggest share of housing units to be completed in 2021 in Bucharest and its surroundings, approximately 55.2%, target the mass market segment characterized by projects located in the big districts of the city or on the outskirts, whose trading prices usually do not exceed EUR1,300 per useful square meter, while approximately 8,300 housing units that are to be completed in 2021 can be included in the middle market segment, with their number being similar to that in 2020. The prices of these housing units usually start from EUR1,300 per sqm and reach maximum EUR2,000 per sqm, for the most expensive of them, per SVN Romania report.
According to SVN Romania report, the middle market segment will keep attracting in 2021 a significant share of home deliveries, considering that household income have grown constantly over the past years.
The premium and luxury segment is expected to see in 2021 its best results ever, with a volume of deliveries estimated at over 700 housing units. Usually, these units are located in the northern part of the city and their prices start from EUR2,000 per useful sqm. Overall, the luxury home transactions market reaches approximately EUR250 million per year, per SVN Romania estimations.
The accessibility of buying a new home in Bucharest reached its best level ever, in early 2021, as buying a new home in Bucharest currently is four times easier, per the profile index calculated by SVN Romania.