Global crisis impacts on local real estate segment

“Investors are not afraid. In business, there is no such thing as being afraid, arguing or enjoying too much. It is just a business that one must carry forward with professionalism to the end,” said the General Manager of Quantum Management & Consulting, Andrei Apetrei. He added that a good businessperson must know how to cope with any crisis without panicking. He said Romania is currently a good environment for stable business.

Consulting company Coldwell Banker Affiliates of Romania representatives said the company is not affected, “at least for now,” by the current crisis. “The only concern could be related to greater buyer uncertainty,” the company’s CEO, Valentin Ilie, said.

However, Immoeast real estate developer representatives said that developers are finding it more difficult to find financing for their projects. The Austrian developer recently announced it would freeze a portion of projects it announced, including in Romania. The company’s Investment Manager, Edgar Rosenmayr, recently said that the Romanian real estate market is less affected by the crisis, compared to other Central and Eastern European markets. (NewsIn)