The company delivered 352 homes in Phase 1 of the Avalon Estate complex near Bucharest in 2023 (of which 96% are already sold) and the associated underground infrastructure for Phase 2. Another 153 units will be completed in this new stage.
This means nearly 70% of the final project (comprising 746 homes) represents residential units and common spaces either delivered or currently under construction.
Ultimately, the complex will host a community of approximately 1,500 - 2,000 residents.
Romania remains one of the countries with the lowest mortgage penetration rates in the European Union, according to a Colliers' analysis.
The total number of homes completed in Romania in the first nine months of the year was 42,312, down by 18.1% compared to the same period last year, according to a report by the National Institute of Statistics (INS).
Victor Terheș, Sales Director at Bellemonde, talked to Property Forum about the status of its €40 million residential investment in northern Bucharest and the growing demand for homes in this area in the long term.
Anchor Grup has announced its Bucharest-based residential project Select Residences has reached the delivery phase.
Speedwell Development has obtained the construction permits for the first 50 luxury villas in a new residential project in Corbeanca, near Bucharest, where it plans to invest €94 million.
The Bellemonde residential complex in Pipera, near Bucharest, is recording growth in sales for its villas and apartments.
Romania finds itself under scrutiny regarding its fiscal position and ongoing macroeconomic imbalances in the European Commission's 2025 European Semester Spring Package.
Financial independence is a nearly universal aspiration for 87% of Gen Z, yet wealth accumulation is not the primary driver of success.
Veolia, the joint owner of Apa Nova București, the operator of the water infrastructure in Bucharest, says it has no plans to take over hydroelectric power producer Hidroelectrica.
VAT Romania, a high-performance vacuum valve supplier part of the VAT Group, has officially opened a new 21,000 sqm production facility within VGP Park Arad.
Volker Raffel, CEO of E.ON Romania, has been elected as the new President of the German-Romanian Chamber of Commerce and Industry (AHK Romania).
