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We give the investor the possibility to be involved in building residential real estate. We are well positioned and experienced to follow-up projects. Implementation of development plans in the pre-execution phase requires a wide set of skills, particularly excellent coordination and decision making skills. Bidding preparation and organization, permitting assistance, operation management, controlling subcontractor's quality standards, insuring projects' compliance with the Romanian law are just some of our competences.
Romania has one of the lowest housing stocks in Europe due to many years of limited housing development. Many inhabitants still live in poor quality tower blocks built under the communist era (refurbishment is very difficult).This structural deficit is expected to support housing demand which is anticipated to reach 10,000 units per year in the next 2½ years. This increase in demand is due to several factors: · The continued rise in real salary levels in Romania – expected to double by 2010. More and more young couples have access to property, following the introduction of the mortgage loan system. The local currency is continuously appreciating. · The recent EU accession combined with increased levels of foreign investment. · An improved range of flexible mortgage products from the Banking & Finance sector. Banks have decided to grant a mortgage without prepayment if the salaries of the couple comply with their demands. Foreigners have now the possibility to get a mortgage on a property based on the proof of a constant and sufficient income in the country of origin. We expect that prices for residential property will continue to rise at a rate of 15% - 20% per year for the next 2-3 years.Good quality projects will enjoy higher growth rates. The demand for luxury units will also grow along with the rapid growth of the Romanian moneyed class. As well as luxury accommodation in Bucharest, it is anticipated that there will be an increased demand for holiday homes by the sea or in the mountains.As our way of working is based on transparency we give online access to the investors for their development project. They are able to follow up the progress of the business. |