Developers happy to they sell 10-20 apartments per month

While developers are boasting if they succeed to sell several tens of apartments in a quarter, another several thousands are still out for sale, shows a survey drawn up by Colliers International real estate consultancy, reads BUSINESS Magazin magazine. At the beginning of the year, 9,000 apartments in complexes with over 200 housing units were up for sale, with 3,000 of them initially acquired by investors. Another several thousands are likely to be finalised this year and, given last year's sales, the stock to be created may be enough for many years from now on. "Sales are weak on the new segment, only where there are opportunities, where prices are not very high compared with the prices of old homes in the same area. Also, housing units from investors are selling quite well, because they have lower prices than the ones from the developer of the same project," comments Valentin Ilie, CEO of Coldwell Banker Affiliates of Romania. The amount of unsold apartments and the resale of apartments initially acquired by investors will most likely prolong the current situation, when the number of new residents in a finalised housing complex is very low.