“Even though residential units have became more affordable, buyers would rather look at two-room apartments than three-room ones as they were doing last year,” said Carmen Sandulescu, CFO of Impact.
Recently, the firm announced it had signed its first residential deal of the First Home program, selling a two-room apartment within a block at the Greenfield I residential complex for EUR 79,000 not including VAT. According to Impact, the buyers paid an advance of EUR 19,000, with the rest being secured from a bank loan.
So far, Impact has developed 16 residential projects in five Romanian cities, totaling 2,000 homes, besides 25,000 sqm of office and commercial space. In February, the firm reported securing EUR 3.5 million from 25 signed deals and nine sales agreements for the residences in its Greenfield project.
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 had been contracted so far. The project is part of a wider development which will cover 60 hectares by completion time.