Land Prices In N Bucharest Climbed To EUR6,000 Per Square Meter- Study

Land prices in Bucharest’s northern area climbed up to EUR6,000 per square meter over shortage of lands used for construction works, as indicates a study conducted by realty consulting company Colliers.

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Moreover, in certain areas in Bucharest’s Primaverii district, the price per square meter is even likely to reach EUR5,000.

However, despite high prices, many residential projects are developed in this area and buyers are still willing to pay a higher price to live in a fancy area, the study also shows.

In addition to that, the supply does not offer variety, as Bucharest’s northern area only offers expensive solutions and the price per square meter is lower only on the outskirts.

Realtors mull developing projects in relatively new areas as well, such as Sisesti, Odai, Jandarmeriei or Petricani.

According to Colliers, 70% of Romanians who buy expensive houses prefer to rent them, as they can easily recover the money they invested in a short period of time.

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