Land prices in Bucharest have almost doubled in 2021

by   CIJ News iDesk V
2021-12-22   08:21

Land prices for the development of residential or commercial complexes in Bucharest have almost doubled in 2021, compared to the beginning of the pandemic. The most expensive areas in the Capital remain the center and the north, according to an analysis by the real estate consulting company, Investpoint.

"Prices have risen substantially in 2021 compared to previous years. If the developers traded in 2019-2020 a land suitable for a block at EUR 400-600 / sqm, in the middle areas of Bucharest, this year, the price for the same plot of land almost doubled. Lately, many real estate developers - both residential and retail - have started looking for plots of land for new projects. The focus is on the central area, where some transactions have reached EUR 4,000 - 5,000 (in Victoriei Square) or EUR 5,000 - 6,000 (in Aviatorilor) for a sqm of land ", says Cristian Nicola, CEO of Investpoint.