“Last year, some 200 luxury housing units were delivered on the market, most of which have been sold. Those which have not been sold were leased,” Voica said, adding that most housing units sold last year were bought by Romanians, whose standard of living has increased in the past five-seven years, and who are not as affected by the crisis as the rest of the clients.

The price of luxury homes ranges between €600,000 and €1.3 mln, and these are usually built in 10-15 unit buildings or as penthouses within residential complexes. Monthly rents amount to €3,500-5,000, and can even reach €7,000 for villas rented by companies.