Irina Caraene, Sales Director Cordia Romania, spoke at the panel “Residential set for further robust growth?” from CEDER 2021, one of the most important events for real estate professionals in Romania, about the trends on the residential market, the factors that stimulated the demand for apartments on the medium-high segment of the residential market in Bucharest and the 5% VAT.
“The context generated by the pandemic emphasized a trend that was already present on the residential market, namely the increasing demand for larger apartments. Two-room apartments were the best sellers on the Bucharest residential market, and they still are, but the demand for three- or even four-room apartments grew during the pandemic. More and more people want that extra room needed for work from home or for leisure. Not many can afford it though, and the extension of the 5% VAT to the 140,000 euro price threshold would have granted access to more buyers to bigger apartments”, explained Irina Caraene.
Irina added that people looking for a new apartment in the middle-high segment understand the benefits that a sustainable residential project offers on the long term and are willing to pay a higher price for a better housing quality. “Energy efficiency and smart-home systems are two of the most important elements when it comes to a green and sustainable residential project. Materials used both in construction works and for finishes are selected to provide energy efficiency and comfort. Green spaces within the project are also important for a project’s sustainability”, added Irina.
The residents who have already moved into the first phase of PARCULUI20 enjoy a well-built home equipped with smart home system, underfloor heating, large windows, generous balconies and access to a full list of facilities designed for energy efficiency, privacy and comfort. “In Romania, several generations still live in the same house, therefore we rely on a sustained demand and successfully present to our clients the second phase of the project, which will be completed next year”, said Irina.
The apartments available in phase 1 and phase 2 of the project can be found here: https://www.parcului20.ro/modul-3d/