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The study found that the local market has only a few completed projects, with a residential stock of 617 housing units and a projected further 10,000 between the end of 2010 and the beginning of 2012.
The projects are concentrated on the outskirts of the city, due to the natural surroundings and large amount of land, while the central area no longer has the land available that could host new developments, the study says.
The study calculated an absorption rate of 1,000 to 2,000 housing units yearly.
Magda Purice