Life in a new housing complex: At least 10% of apartments are rented out

At least 2,500 new apartments in Bucharest have been put up for rent by home investors.

In the big, finalised complexes, at least one apartment in ten is rented out, but there continue to be vacant apartments.

Rented apartments account for as much as 15% in the Rasarit de Soare project in Titan, where tenants occupy around 100 apartments of the 700 delivered to owners, while in Asmita Gardens, around 30 apartments have been rented out so far, according to information sent by company representatives to ZF.

Real estate websites are full of ads for homes offered for rent by small investors who bought a few homes when the market was rising in order to sell them for profit later. Amid significant price declines, they prefer to rent them out rather than sell them at a loss, so a new market of renting out new apartments has been created.

"So far, over 700 apartments have been delivered, with around 1,000 people living in Rasarit de Soare. There are around 150 homes still available here, with the rest being pre-booked and pre-contracted apartments. According to our estimates, there are around 100 apartments rented out by their owners," says Romeo Cazanescu, general manager of Conarg Real Estate, developer of the Titan project.