ROMANIAN REAL ESTATE STRATEGIC PERSPECTIVE MARKET IN 2012: CULTIVATING A STRATEGIC PERSPECTIVE

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Andrew Prelea, Ozone Homes CEO, attended, Thursday, December 15th, at Intercontinental Hotel, the event Romanian Real Estate market in 2012, organised by Medien Conferences.

The conference had a moderate-optimist tone, the experts being convinced that the real estate market will emerge from the crisis. The market tends to stabilise itself after the last two years and the balance depends on the moment when the banks and the government will start to cooperate properly with the investors.

The main problems facing the real estate sector in Romania are: poor infrastructure, the regulation of the real estate market or the confidence in developers and realtors.

“The banks refuse to change their lending policies, the whole approach being too complicated. Although there are discussions about VAT reduction for the new properties, the government does not seem to hurry at all to implement this measure. The developers do not adjust too easily, many of them refusing to understand that they should build for this type of market”, said Andrew Prelea, Ozone Homes CEO.

The speakers from the Romanian Real Estate Market in 2012 event also appreciated the Prima Casă governmental programme and underlined its importance on the market.

“The Bucharest real-estate market slowed its downfall in 2011 compared to last two years. According to IMOPEDIA.ro, this year the prices of apartments decreased by 3% - 5% from last year, a percentage much lower than in 2009-2010, when prices fell by up to 16% ” said Razvan Muntean, General Manager IMOPEDIA.

The inability to attract investors is another problem of the Romanian system. They are somehow afraid of bureaucracy and the difficulty of working with the institutions involved, whether public or private, including banks.

More details about the event, here!


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