Colliers: No. of empty apartments in residential complexes up 50% in H1

7 sep 2010 Autor: Izabela Badarau

The stock of recently finalised yet unsold apartments reached 3,700 at the end of the first half of the year, up 48% against the end of last year, according to a survey of the Bucharest market conducted by real estate consultancy Colliers.

"Demand has not kept up with the volume of deliveries in the last 18-24 months," - this is the reason for which increasingly more new apartments are left unoccupied. The number of apartments finalised in new residential complexes has reached 13,500, which means unoccupied apartments account for 27% of the total.
One of the residential complexes that has finalised apartments this year and put them up for sale is Ten Blocks in Militari district.
"In February we put 130 apartments up for sale, with 40 of them still empty. They are mainly quite large three-room apartments. The two-room ones did sell, although their price was above the limit of the First Home scheme," says Andra Turtoi, sales manager of the Ten Blocks project.