Business Forum • 17 July, 2024 at 1:17 PM
North Bucharest Investments announces the outstanding results achieved in the first half of 2024, which strengthen its leading position in the Bucharest real estate market. In the first half of the year, North Bucharest Investments completed more than 520 real estate transactions, an increase of 30% compared to the total number of transactions in the previous year.
The value of realized transactions reached approximately €63 million, an increase of 35% on the total amount for the same period in 2023.
"Our monthly volume of transactions is 2 to 4 times higher than last year, and these figures are categorically the result of the trust our clients have in us. This performance also reflects not only the stability of the real estate market, but also our ability to adapt and respond quickly to the evolving needs of our clients. The increasing monthly sales also highlight the effectiveness of the strategies we implement, both in the area of PR, marketing and sales. Our team provides top-notch investment and real estate advisory services, and it shows in the numbers," says Vlad Musteață, CEO of North Bucharest Investments.
More than 5500 people contacted the company directly through the advisory website www.northbucharestinvestments.ro, which represents an increase of 25% compared to the same period last year.
The number of employees and agents has also increased in proportion to the business, from 41 to 103, which stands out on the labor market with an increase of 151%. This expansion of the team allows for quick response and offering top quality services for every requirement from clients.
"In the first half of 2024, investors played a significant role in our sales activity and accounted for approximately 60% of all transactions. This high percentage indicates that investors trust North Bucharest Investments and the profitable opportunities on offer. Our relationships with investors are long-term ones, built on transparency, accurate and timely information on real estate market developments, but also on our performance, validated by experience and time.
Residential end-customers account for 40% of our total sales, and this category includes families with children as well as individuals who want a home close to the office, well connected to transportation, educational and shopping facilities.
This balanced mix is proof that our portfolio satisfies both immediate residential needs and long-term investment objectives that generate good returns," says Andreea Nicolae, Director of Client Relations.
The estimated value of the current portfolio is €38 million. The portfolio comprises 134 residential complexes, villas and houses, of which 62 are large-scale projects. In percentage terms, the portfolio has increased by 20% compared to the whole last year.
In the first half of 2024, 21 new real estate developments were added to the North Bucharest Investments portfolio, and supply and expansion will continue at least at the same pace in the next 6 months
North Bucharest Investments' projects are concentrated in sectors 1, 2 and 3 of the Capital, in highly sought-after areas due to its premium developments and excellent infrastructure.
"We are actively exploring opportunities to expand our presence beyond North Bucharest. Cities such as Brasov and Mamaia Nord are also on our radar, given their growing demand and high earning potential for investors and end clients. Our objective is to offer high quality real estate solutions in different regions and thus respond to all the demands coming from people interested in buying in the local real estate market.
We are analyzing very well the prospects of expanding our activity and portfolio in other major cities in Romania. Iași and Cluj are also cities with a very high development potential and cities that bring significant benefits for those who invest in apartments and houses, both to live in them and to generate good rental yields," emphasizes Vlad Musteață, CEO of North Bucharest Investments.