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Boom in real estate has not started yet

The international financial crisis has come close to the real estate market in Romania. Prices are higher and higher, developers and investors have problems in finding financing, buyers do not seem to be in a haste, all this has caused blockages in the market, writes Business Magazin. It publishes a few opinions on the development prospects of real estate in 2008, in Romania.

The real estate market is not blocked financially, it is blocked because people are a little bit afraid of the current international financial crisis, of what dailies are writing, said Ionut Bordei, head of the residential department of real estate consultancy company CB Richard Ellis Eurisko. 'There are potential buyers with much money, but they are waiting to see what happens,' Bordei said. In the real estate market in Romania, there are currently good projects and many 'aberrations', but people start to see the difference, Bordei believes. On the other hand, very many strong developers are coming to Romania, said Bordei, who thinks the boom of the real estate market has not yet begun. The residential sector is more sensitive to price than other segments, said George Teleman, partner of Equest Partners, which manages Equest Balkan real estate investment fund, which holds nine properties in the Romanian market. 'The projects begun continue, they are not stopped here. The best of them will succeed, those which are not so good will suffer, ' Teleman believes. Sursa: http://www.rompress.ro

Tags: estate market

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