Apartment prices in Bucharest to hike 15-20% yearly until 2010 on market growth

Prices will also see a 10 percent hike by the end of the year on rising demand, company experts said.  As many as 11 on-going residential projects will bring 3,721 new apartments on the market in the next couple of years, according to the latest Colliers report. Six of them are located in the still popular northern area of the city which saw a healthy growth in residential projects in the past few years.

The following years will witness significant supply, as the number of units available on the market will reach 10,000 per year, the report said. However, the number of apartments will remain low, at only 15,000 by 2010, Colliers added.