Over 28,500 apartments under development in localities near Bucharest

Business Forum

6 September, 2024 at 1:48 PM

The ongoing residential developments in areas near Bucharest count around 28,500 apartments, with Voluntari town and Tunari commune among the locations with the biggest volume of new construction, according to a report by Imobiliare.ro.

Developers are focusing on the Roșu village in Chiajna locality and the Popești-Leordeni town for new residential projects. These areas act as an extension of existing Militari and Berceni neighborhoods in Bucharest.

In Pipera-Voluntari area there are over 3,000 new residential units under construction at present.

Ștefăneștii de Jos is another locality near Bucharest where the biggest residential project in Romania is currently under development.

Going forward, several major infrastructure projects are under construction that are slated to increase the attractiveness of towns near Bucharest by easing traffic at the city's entrances.

This includes Highway A0, the Bucharest Orbital Project, and the extension of the underground transport network on lines M6 and M2 up to Otopeni and Berceni commune.

Homing Properties to develop 140 villas near Bucharest

Homing Properties will invest €35 million in the construction of 140 villas in Pipera, near Bucharest. 

Real estate

River Development moves all projects under Sema umbrella

Romanian investor and developer River Development has announced its rebranding as Sema Real Estate, with all current and new projects to be reunited under this umbrella. 

Real estate

AFI Europe buys landmark office building in Bucharest from Immofinanz

AFI Europe has purchased the myhive Victoriei building in central Bucharest from Immofinanz for around €27 million. The new owner plans to turn the existing office building into a mixed-use project, with the conversion permit already secured.

Real estate

Bellemonde secures funding for resi project near Bucharest

Romanian developer Bellemonde Developement has obtained €21 million in funding from Libra Internet Bank for a residential project in Pipera, near Bucharest.

Real estate

HILS Development posts 28% resi sales growth in H1 2024

Romanian developer HILS Development has announced a 28% increase in residential sales during H1 2024 compared to the same period of last year, while revenue was up 25% year-on-year. 

Real estate

Bucharest mayor to issue traffic permits for new property developments

Bucharest's Mayor Nicușor Dan has announced that he will be tasked with issuing traffic permits for new Urban Zoning Plans (PUZ), Urban Developing Plans (PUD) and construction authorizations.

Real estate

Romania ranks among cheapest resi markets in Europe

The average price of new homes in Romania amounted to €1,504 per sqm in 2023, which was the third lowest price in Europe, behind Bosnia and Herzegovina and Greece, according to a Deloitte report. 