Equity investors hover to pick up land plots from distressed owners

This type of purchaser prefers lots with specific urban planning, located in attractive areas with high development potential. Last year, land shifted from a seller's to a buyer's market, particularly in the second half of last year.
The land market has seen more diversified types of properties put up for sale, compared to the last two years. “Unfortunately developers are not willing to conclude transactions, but prefer to delay the purchase, waiting for a further price decrease and market revitalization,” according to the firm.
Despite a slight increase in sale prices, by 10-15 percent on average, recorded during the first months of 2008, the trend shifted in the second half of the year, when asking prices dropped by approximately 15-20 percent. In Bucharest and its vicinity, the fall was even higher.
Staff