At least 2,500 new apartments in Bucharest have been put up forrent by home investors.
In the big, finalised complexes, at least one apartment in tenis rented out, but there continue to be vacant apartments.
Rented apartments account for as much as 15% in the Rasarit deSoare project in Titan, where tenants occupy around 100 apartmentsof the 700 delivered to owners, while in Asmita Gardens, around 30apartments have been rented out so far, according to informationsent by company representatives to ZF.
Real estate websites are full of ads for homes offered for rentby small investors who bought a few homes when the market wasrising in order to sell them for profit later. Amid significantprice declines, they prefer to rent them out rather than sell themat a loss, so a new market of renting out new apartments has beencreated.
"So far, over 700 apartments have been delivered, with around1,000 people living in Rasarit de Soare. There are around 150 homesstill available here, with the rest being pre-booked andpre-contracted apartments. According to our estimates, there arearound 100 apartments rented out by their owners," says RomeoCazanescu, general manager of Conarg Real Estate, developer of theTitan project.
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