26/02/08
Bucharest has the lowest offer of dwellings per capita in Romania
Bucharest currently offers only 1.2 new lodgings per thousand inhabitants, the most meagre offering in the country according to Ioan Bejan, manager of Raiffeisen Bank Home Loans. The city of Cluj-Napoca provides 3 new dwellings per one thousand people.
There are currently 8.2 million houses in Romania, which equates to some 380 dwellings per thousand people. In contrast the E.U. average stands at 470 lodgings per thousand inhabitants.
The average area of the capital's apartments is less than 20 square meters per capita. This is the lowest value in the E.U.
Romania's dwellings offer could drop further in the future as old stock becomes dilapidated. The only solution to this issue is to build more new apartments, concludes Bejan.
OUR PERSPECTIVE
This unusual set of circumstances of housing stock deteriorating while jobs, salaries and general prosperity surges is the primary reason why Property Investment Expertise specialises in Romanian real estate. According to conservative estimates it will be at least a decade before enough modern residences are available to replace the Soviet-era blocks. Until that time investments in Romanian off-plan property will command an exceptional ROI.