Cheapest new studios and apartments finished in Bucharest

Several years ago, when apartments under construction now were just scale models, developers and consultants said prices would rise as the delivery date drew near. However, the crisis came with finished apartments at lower prices, BUSINESS Magazin says.
Finished studios at 40,000 euros and apartments fit even for the "First Home" programme that set a loan cap of 60,000 euros. Two years ago, such prices seemed almost impossible, especially in complexes with several hundreds of housing units generally including facilities such as retail space. The only options were homes at the outskirts of the city, which is valid now, too, but current offers include finished homes, or homes that will be finalised this year.
"It's very difficult to find such offers in semi-central areas or that are not at the outskirts of Bucharest. Land acquisition costs were higher when projects were started, construction costs were higher and the developers of projects in better areas are not yet willing to cut prices, either," comments Valentin Ilie, CEO of Coldwell Banker Affiliates of Romania, a real estate company brokering the biggest portfolio of both new and old apartments.
The cheapest studio and two-room apartment offers are indeed for housing projects located in the outskirts such as Prelungirea Ghencea, the exit to Autostrada Soarelui or Titan. The cheapest studio for instance is in Rasarit de Soare project developed by Conarg in Titan district. The studio has a 47 square metre built area and a price of 40,900 euros, followed in BUSINESS Magazin's ranking by a studio in Confort City project at a price of 41,475 euros. The situation is similar in the case of two-room apartments.
Can a two-room apartment be built in a better area and sold for 60,000 euros? Valentin Ilie makes some calculations. "Yes, this is possible, but works should start now, when construction costs are lower and one stands the chance of finding a plot of land at the price of a distressed asset".