Timisoara registers a deficit of 3,000 houses on residential market, says Hitch&Mosher

Newsroom 18/07/2016 | 15:49

Hitch&Mosher, a real-estate agency from the Western Romania, intermediated in the first semester of this year several real estate transactions, a growth compared with the same period of 2015. The residential segment was the most active in this period, while Timisoara continues with a deficit of 3,000 houses.

On the residential market, in Timisoara the average transaction price was EUR 1,050/ sqm a growth of almost 15 percent compared with the same period of the last year, Timisoara having the third biggest price/sqm, after Cluj and Bucharest. The sales on residential market were stimulated by the program „Prima casa”, but also by the developers’ policies, which offer discounts and installments payment up to three years.

„The flexibility of developers, the existence of good real estate projects, but also the big deficit in houses and offices, currently, give us the signals that the tendency will be maintained in the second part of 2016. The prices grew a little, but not significantly, the default rate is extremely low, therefore we trust in a healthy, responsible growth, ” says Marius Schiopota, managing partner Hitch&Mosher.

A significant input in the financial results of Hitch&Mosher in the first semester of 2016 was the residential projects managed in exclusiveness: Uranus Plaza and Adora Forest.

The important results from the point of view of the finished transactions were registered also within the residential complex Adora Forest, where there still are 28 percent of the total of 107 apartments.

In the Uranus Plaza, the company is looking to sell the remaining 10 percent out of the 223 apartments that were built.

Georgiana Bendre

 

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