“The deals we signed in February are 50 percent higher than the 2007 level. This time, we have focused on housing solutions and financial options to substitute for the liquidity shortage on the market,” said Carmen Sandulescu, Impact's CFO.
The new conditions have hit prices. Within Greenfield I, the average sales price has dropped 14 percent compared with 2008. A built sqm is being sold for around EUR 1,500, a similar level to prices in 2007. At the end of last year, a 53-sqm Greenfield studio went for EUR 91,600 including VAT, while renting this kind of property would cost an estimated EUR 440 per month, according to Sandulescu.
The Greenfield I project consists of 676 apartments and houses delivered as part of a first development stage at the beginning of the first semester of 2009. Impact representatives said that 430 apartments have been contracted so far. The project is part of a wider development which will cover 60 hectares by completion time.