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Developers of cheap flats cut prices

This year's sluggish sales brought about by the international financial crisis and the accelerated rise in housing price in the past years have put to test the property developers on the market. Thus, some of them have decided to put the projects in stand-by, while others have started to cut prices or extended the promotional offers, Ziarul Financiar writes on Thursday. The developers with a portfolio of relatively cheap flats, worth 1,000-1,200 euro/sqm, are the first to have announced price cuts of 10-15%.

The latest case is Comnord Co., which has announced it cut to 900 euro/built sqm, for a limited period, the prices of flats in the second phase of the Ten Blocks project, developed in Bucharest.

'We started the promotion two weeks ago and we sold in November 11 flats, which is better than in the previous months, when we sold 1, 2 or no flat. However, there can be no comparison with the same period in 2007, when we sold even 3-4 flats per day', said Adriana Prunaru, the sales representative of the project. The discount period will last until the year's end at least and includes all types of homes in the two blocks with 86 flats put up for sale.

RAMS is among the developers of flats for the middleclass. This company has cut from 1,300 euro/built sqm plus VAT to 1,200 euro the price of homes in the RAMS Residential 1 complex in Bucharest. Bucharest-based Gigant Construct developer has cut prices for Pallady Residence homes from 1,200 euro/sqm to 1,000 euro/sqm, and the developers of Romfelt Plaza project have announced they would offer a 10% discount for the flats paid down. The prices start from 1,600 euro/sqm plus VAT.

 

Sursa: http://www.rompress.ro

Tags: flats euro prices developers

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