The pace of housing deliveries slowed considerably in the last quarter of last year, especially in Bucharest and the metropolitan area, where the numbers were a third lower than in the same period in 2021, Colliers data shows. Overall, in 2022, 21,328 homes were delivered in the capital and the surrounding areas, 3 percent below the level of 2021.
At the national level, however, the residential market registered a record of deliveries last year, of 73,332 new homes, increasing by 3 percent compared to 2021.
“Developers in the residential segment are mainly interested in the metropolitan areas of the big cities, to the detriment of the development inside the cities. Thus, the trend observed in the past, especially around Bucharest, also extends around the big cities, the explanation being that the supply of land is more consistent, prices are lower and authorizations are generally obtained with fewer difficulties,” explains Gabriel Blăniţă, Associate Director Valuation & Advisory Services at Colliers Romania.
