Lands outside southern Bucharest registered a price downfall in 2013 with 23% compared to the similar period of last year. According to the study, the lands within registered down prices this year too. Currently, a plot in southern Bucharest is 15% cheaper than in the same period of last year.
For the western Bucharest, the costs are 21% less for the lands outside and 13% less for the lands within the city.
In northern Bucharest, a land outside is 16% less, while a plot in the city is 9% less than the same period of last year.
In the eastern Bucharest outskirts, the lands registered prices downfalls of 14%, while the plots situated in the city limits registered a 9% fall.
The interest for outside Bucharest lands has dropped to half compared to the period of real estate boom. Approx. 16% of Bucharest residents still have interest in buying nowadays a plot outside Bucharest in order to build in the next period, compared to 34% in 2008.
The lands outside Bucharest, without utilities and access roads, do not represent an interest for the buyers anymore. During the economic growth period, those properties represented profitable investments, as their prices were growing rapidly from year to year and could be easily sold, in short time, with a guaranteed profit of the transaction. Following the crisis, the lands market changed radically: the buyers are usually final customers, interested in building in the near future. therefore, 84% of the potential buyers are interested in lands within the city, according to Imopedia.ro.
Nearly 40% of the real estate website visitors looking for a land would be ready to pay up to EUR 30,000 for a plot. At a fair distance are those with budgets between EUR 70,000 and EUR 150,000, a percent of 37%. Only 9% of the buyers could afford to pay more than EUR 150,000 for a plot of land in Bucharest.
As for the areas, 31% of the potential buyers want lands between 300 and 500 sqm and 25% of them are happy with plot of at most 300 sqm. The plots with 500 to 1,000 sqm are interesting for 21% of the site visitors. Slightly more than 10% of the visitors have chosen lots more than 1,000 sqm.
The interest for farmlands in fertile areas has increased in the last three years from 8% to 15%.
„The largest bet is for the agriculture. Although in the last years the prices of the farmlands has increased yearly, Romania remained an attractive market for those willing to invest in agriculture. With prices down to four times smaller than in the EU, between EUR 1,500-3,500/ha, in Romania there are good farmlands, on large areas with fertile soil and the cheap possibility of exploitation.”, says Razvan Muntean, general manager Imopedia.ro (source: wall-street.ro)