Exchange of housing could make a comeback

 It is hard to match the demands of two owners. Those who want to exchange homes are looking for a certain area or a certain floor,“ according to the General Manager of MagazinulDeCase.ro real estate portal, Matei Malos. Furthermore, the Managing Partner of Hirsh real estate agency chain, Ricardo Franc, said that the idea is viable in theory, but owners „actually have no choice opportunities for what they want in exchange“. As far as new apartments are concerned, real estate buy-back does not seem to be a solution for developers, who would become burdened with a portfolio of old apartments they cannot sell. Developers have tried to find various solutions to stimulate transactions, as they are facing a drop in demand due to high prices and difficulties in lending. Real estate leasing or buy-back was among the solutions found, but buy-back no longer seems to be an option. „Developers cannot take on the burden of an old apartment, which they are surely unable to sell. Furthermore, evaluating an old housing unit is difficult,“ according to the Manager of Colliers International’s Residential Division, Ilinca Paun. „This is not a viable solution, given the rapid devaluation of old apartments,“ according to the Commercial Manager of Spanish developer GEA Prasa, Antonio Zarnescu. (A.U.)