Whereas two years ago developers were boasting sales of hundredsof apartments before the beginning of construction works, now theysell between 3 and 20 apartments every month.
The price decline and the freeze of a large number of projectshave led to a slight rise in the number of apartments sold innewly-completed projects, with around 330 apartments being soldwithin nine real estate projects in Bucharest since the beginningof the year, around six apartments per month in every project,reveals a ZF analysis.
The rate differs based on where the project is located and onprices. Whilst developers of the Rasarit de Soare project in Titandistrict say they sold 100 apartments this year, with pricesstarting from around 40,000 euros, Asmita Gardens sold 19apartments since the beginning of the year, but prices start from125,000 euros for two-room apartments.
"35% of Asmita apartments are still available, with 95% of theapartments built in the first stage of the projects being alreadysold and moved into. The sales pace has increased significantlyagainst last year. For instance, a record seven apartments weresold in April, as well as three upgrades (clients who opted for abigger apartment than originally contracted) worth an overall onemillion euros. We sold another three apartments in May, and fourapartments in June so far," says Atena Tiplic, sales manager of theproject on Splaiul Unirii, where around 270 apartments are stillavailable.
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