Business Forum • 26 June, 2024 at 12:41 PM
An analysis conducted by North Bucharest Investments shows that 3-4 room apartments and houses are sought by 70% of those who want to live in the northern part of Bucharest and 85% of those who choose an investment that will generate generous rental or resale income, opt for 2 rooms and studio apartments.
In the northern part of Bucharest, 70% of customers are looking for 3 and 4-bedroom apartments or houses with one floor in the Pipera and Tunari areas. Buyers are generally families with 1 or 2 children who are not dependent on public transportation and are interested in properties with spacious terraces or balconies. These apartments are in demand on intermediate floors, which offer views of quiet areas.
Another important segment, represented by 25% of North Bucharest Investments customers, prefers two-bedroom apartments. Young families without children are the main clients of these categories of real estate, preferring to live on higher floors and close to public transportation, especially the metro, but also to shopping malls, gyms, and medical clinics.
The remaining 5% of customers opt for studio apartments, preferably located near metro stations. Studio flat customers are generally young single people who have come to Bucharest for studies or specific jobs.
"Northern Bucharest is the most sought-after area for real estate purchases in the premium and luxury category due to the diversity and attractiveness of the offer. 70% of our customers are looking for bright and spacious homes with areas between 75 and 150 square meters.
For apartments, the comfort of spacious terraces and balconies, which in some cases reach up to 40 square meters, is highly appreciated, while for houses, gardens of over 100 square meters are at the top of the demand.
The profile of the client interested in the North of the Capital shows the diversity and attractiveness of the real estate offer, as well as the infrastructure, transportation, and education facilities in the area," stated Andreea Nicolae, Director for Client Relations, North Bucharest Investments.
Profile of customers buying for investment
For investments, the North Bucharest area is very attractive for the generous yields offered by the properties in the real estate developments here.
The most popular investment properties are two-bedroom apartments, with areas starting at 52 square meters. They account for 60% of the demand from investors, who also emphasize the proximity of the projects to public transport (maximum 5 minutes), shopping malls, and medical centers.
25% of investment demand is for studio apartments—both for long-term rental and for resale. Most investor clients are looking for studio apartments for rent due to their profitability.
3–4-bedroom apartments and penthouses are sought after by 15% of investment buyers who are looking for long-term rentals in premium developments.
Online Customers Profile
Interest in housing in the north of the capital is also growing for those now living outside Romania.
"At the beginning of the conflict in Ukraine, we saw a wave of inquiries from that country. However, in the last year, we have seen increased searches from Western Europe, especially from Romanians settled in countries such as Germany, Israel, the United Kingdom, Moldova, and the United States. These are clients looking to invest in Romania because of the generous returns from renting properties," according to Vlad Musteață, CEO of North Bucharest Investments.
An analysis of clients' profiles searching for online real estate offers reveals that most searches are made by women (63%), while men represent 37%.
The average age of customers searching for homes online varies depending on the type of property they are looking for. Higher-budget properties have an average age of 35-44, while 1–2-bedroom apartments have an average age of 18-23.
In terms of sales, North Bucharest Investments has seen a notable increase in sales month-on-month this year. There were 128 completed transactions in May alone, compared to 51 units sold in the same month last year. The 150% increase has also resulted from the growth in the project portfolio and being chosen partners with good track records in the market.
North Bucharest Investments
North Bucharest Investments (NBI) is a group of companies in the residential real estate segment. It operates in two business lines: investment activity and brokerage services.
The NBI Group was founded in 2011 in the Republic of Moldova by businessman Vlad Musteață. Since the summer of 2022, it has also entered the Romanian market. The North Bucharest Investments Group recorded over 400 real estate transactions in 2023 in new residential developments in the northern part of the capital. In the last year alone, the company's turnover doubled from RON 20 million to 42 million.
NBI manages the most important residential complexes in the northern area of the Capital. The company's activity is differentiated by dedicated digital marketing services, sales consultancy with experience in the sale of new residential complexes, and customized social media communication of the complexes in the portfolio, all of which maximize the sales results of all the residential complexes in the company's portfolio.