Real estate market gets stabilized

The year 2008 brings notable changes in the real estate market in Romania, the trend of late shows a stable and attractive market, daily Bursa said on April 8.
According to president of Regatta real estate company Eduard Uzunov, the market is no longer so speculative, there are signs that it gets mature. Since the beginning of 2008, financial consultancy has started to dominate the market.
Demand is high on the residential segment. It generates, in its turn, high demand for lands in good locations. That holds true also for the luxury segment, where a 20 percent rise in demand was reported since the start of the year. The consequence is that speculation of land in uptown areas stands low.
Regatta officials say that the rise in prices will continue in good areas, where interesting real estate projects are developed.
"In the Romanian real estate market, the new developments are big in size, they are made by big investors. We are past the moment when anybody could become a developer, " Uzunov also said.
In his opinion, the regime of banks has grown tougher, which protects the interests of all the players in the market.
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