To revive sales, developers sell unfinished dwellings

The market is already assaulted by this type of offers, representing complexes from all the areas of Bucharest, in the opinion of the representatives of the company. Thus, in Pipera, in a block of four floors, the developer offers a reduction of EUR 300/sq m for the unfinished apartment, while at Otopeni the discount is from EUR 300,000 to EUR 260,000, for a house of 400 sq m.

In the South of Bucharest, close to the city, in the Green City complex, the developer sells the 356 villas from the first stage of the project unfinished off, putting at the disposal of the future owners finishing materials from Italy and Spain. "The acquisition of the dwellings "in grey" can be an affair for the investors who have their own construction company, want to work with certain suppliers of material and set a certain standard for the project. In the case of the villas, it is much easier because it is possible to make the acquisitions now and take advantage of a low price offer and postpone the finishing off," the press release stressed.

On another hand, the number of developers who choose to sell the dwellings in the unfinished variant could grow in the future, because they benefit from the VAT reduction approved by the Government, applicable starting in 2009. "After the Government reduces the VAT to 5 per cent for the dwellings of up to EUR 100,000, the developers will be even more interested to sell the dwellings without finishing them off, at a smaller price, in order that the future buyers may be attracted by this price cut," EuroMetropola analysts added. The sale of the "grey" dwellings is the most recent attempt of the developers to resuscitate the sales of dwellings this year, after they offered for free fully equipped kitchens, parking lots, or storage spaces, have reduced the surface of the dwellings or granted discounts of 15-25 per cent.