Real estate analysts claim that demand, not supply, is presently driving the market

“Those who understand that it is no longer possible to sell illusions on the current Romanian real estate market are due for excellent business. This is the first time since 1989 when demand is driving the domestic real estate market, rather than supply. At present, the buyer is the one who dictates to the seller what he wants for his money,” said Andreea Arsene for EuroMetropola.

“We should be pleased that the market is showing signs of normalcy and not be afraid of the appearance of positive effects. As such, the real estate market is maturing, not collapsing, settling, not stagnating,” added the EuroMetropola representatives.

“However, the reality from the field differs from that which certain interests are attempting to impose. The EuroMetropola experience shows that the market presents both supply and demand, and that there are those who want to sell their properties as well as those who want to buy. The difference compared to before is that the decision to buy is much harder to make. The client has become more demanding, needs time, checks things out, compares alternatives, and chooses with care,” said Cristian Bratosin, EuroMetropola.

Real estate advisors added that there are now fewer people willing to acquire real estate “anywhere and anyhow,” to sell on in a year or two. Likewise, investors think hard before making a decision, especially if they are dealing with owners who are demanding high prices and are not willing to negotiate.

“Foreign developers even spend a few years studying the market before buying and beginning a construction. They hire advisory companies and pay for complex studies to determine profitability. At present, whoever wants to sell a sizeable piece of land in a good location will find it easier to identify clients if he offers a development project, a feasibility study or a profitability analysis,” added real estate agents. (NewsIn)