Bucharest’s luxury residential market has been dominated this year by leasing transactions. Budgets for such properties run from €3,000 up to €20,000, according to a survey conducted by consultancy firm DTZ Echinox. During the first five months of the year, the company doubled the volume of its rental deals compared to the same period in 2011 to an annualized vlaue of €500,000.
Embassies, banks and large multinationals are the most active customers on the luxury rental niche. Lower ranking diplomats have budgets of up to €6,000, which is enough for 2-3 bedroom suites, preferably located in areas like Dorobanti, Kiseleff, Herastrau and Nordului Avenue.
