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News in Real Estate
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City Mall Shopping Center in Bucharest, which went bankrupt at the end of last year, will be put up for auction on March 31st for a starting price of 33 million euros, 70% lower than the transaction concluded four years ago, in which Australian group APN European Retail Trust paid over 100 million euros for the mall in the Eroii Revoluţiei area. read more...


Romanian land prices should not decrease greatly in the near future, and adjustments should fit within negotiation margins, real estate consultancy firm Colliers said Monday. read more...


Romanian housing prices will continue to decrease slightly in the first half of the year and will stabilize in the second half, according to evaluation firm Darian. read more...


The first 100 files for "First Home" mortgages from the 2011 ceiling have already been approved by the SME Loan Guarantee Fund (FNGCIMM) a week after the scheme was re-launched, but none of the banks that answered a ZF survey have effectively released any loan. read more...


On the average segment, consultants consider a third of rented housing units at most have a contract registered with tax authorities. read more...


The four hotels of Bucharest, Rin Grand Hotel, Confort Traian, Rin Otopeni and Confort Otopeni, with 2,100 rooms overall, controlled by Ionuţ and Robert Negoiţă (a PSD deputy), last year generated 14.1m-euro turnover, down almost 8% from the previous year, according to the company's officials. read more...


The Government decided via an emergency ordinance to eliminate the possibility of owners, builders and developers who infringed on urban plans to get the so called "urban plans to ensure compliance after the fact" for buildings that do not comply with the plans. read more...


The area of the new office buildings due to be finalised in Bucharest this year will halve against 2010, to 135,000 square metres, but real estate developers have not found tenants for these projects, either, for the time being. Thus, 80% of space will stay vacant, taking into account contracts inked so far. read more...


The sale price of apartments in Romania’s seven largest cities increased by up to 2.5% on the month in January, as owners’ optimism was fueled by the rising interest of potential buyers, according to a survey of property website imobiliare.ro. read more...


The average sale price of apartments in Romania’s capital city Bucharest dropped by 12% to 20% in January compared with the same period of 2010, with the highest fall recorded for 4-room flats, according to a survey of AnunturiParticulari.ro real estate website. read more...




Real estate developers offer as part of sales contracts for new homes warranties of up to two years for finishings, lower than when you purchase a car, although the life of a home is 50 years on average, and the investment in a home is much higher than in a car. read more...


Businessmen Klaus Reisenauer and Kurt Wagner, shareholders of real estate developer Oasis Development, have an investment budget of around 80m euros for this year to build a mall in Oradea and another five small shopping centres in Alexandria, Adjud, Aiud, Sebeş and Satu Mare, with five of these projects having Kaufland among tenants. read more...


Several residential complexes in Bucharest continue to have hundreds of apartments available, as a result of projects being completed in full crisis, with only 42 families having moved into the two Monaco Towers blocks of apartments in Berceni so far, after Lebanese-held Marble House built 304 apartments. read more...


Romanian authorities are forbidden to approve urban planning documents legalizing constructions built without authorization, according to a draft Government decree drawn up by the Regional Development and Tourism Ministry. read more...


Real estate investor Bluehouse Capital, one of the major office space owners in Bucharest, paid nearly 10 million euros for the land and the 8,300 square-metre building of the Praktiker store in Craiova, in this year's first real estate transaction, according to ZF information. read more...


The Romanian Government on Wednesday decided the “First Home” program will continue this year with a state guarantee ceiling of EUR200 million, which might be increased in July for the second half of 2011. read more...


Romanian used apartment prices rose by as much as 8% since the beginning of the year, but representatives of realty ads platform imobiliare.ro expect owner ambitions to “deflate” in the near future. read more...


Romanians who will take out loans within the “First Home” program must guarantee their loan with their current account and can file currency swap requests, according to the explanatory note to a Government decision which amends the norms implementing the program. read more...


Romania's "First Home" program, which offers loan incentives to first-time home owners, will continue in 2011 with a guarantee ceiling of at least EUR200 million, Prime Minister Emil Boc said Friday. read more...


Businessman Augustin Oancea, who controls an energy business with a turnover of nearly 100 million euros in 2009, has invested some of his money to acquire Louis Blanc Offices building in Bucharest's Piaţa Victoriei (Victory Square) in an around 6 million-euro deal, real estate sources told ZF. read more...



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