We can strike an urban planning balance in 4-5 years time, says Capitalî€™s new chief architect Gheorghe Patrascu
„The new ordinance stipulates that derogations could apply to a maximum 20% of the built surface, given that there were some cases when it was applied to 100%”, stressed Patrascu.
Patrascu also said that in the western countries a big profit drawn from a real estate investment is of 8-10% and when it reaches 15% this is viewed as a genuine real estate blow.
In exchange, a developer’s profit in Bucharest even hit 100%. At present, on the global financial crisis backdrop, even though the investments profitability rates dropped, they further climbed above the 15% level in Bucharest.
In his opinion, in the past years, the real estate investors’ interest has led the city’s urban development, given that there are few cities in Europe that are considered as attractive as Bucharest amongst real estate developers, but the chaotic construction pace needs to stop, the newspaper reads.
„I am not against tall buildings, because the city should also grow upwards, but not in the old, historical, center or in areas where the construction of such buildings is not permitted by zoning regulations”, Patrascu said as well.