Polish analists announce that real estates speculators ask exaggerated prices for renting or reselling new houses in Bucharest.
Half of the 2000 homes that were constructed last year in Bucharest are empty, despite the high demand on the market, shows a report by the Polish real estate consultance company, REAS. According to the specialists, most of the flats were bought by speculative investors.
Real estates agents from the Romanian market announce that the situation is normal - part of the buyers were not able to move yet, and the others are trying to resell or rent at higher prices.
3.500-4000 euro/month rents in Baneasa
"An example is Project Baneasa, where two or three bedroom flats are rented with 3.500-4.000 euro per month, a sum that could rent a villa in the same area. According to these facts we can say that the investors expectations exeed the present real estate market from Bucharest", states the report. According to the Polish specialists, the profits obtained two years ago in Romania are not of the present interest.
REAS announced that in 2007 only 1500-2000 units of the 3500 flats programed for finalisation were delivered. REAS is a real estate consultant for Polish and Romanian market and a strategig partner for Jones Lang LaSalle.
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