Business Forum • 10 September, 2024 at 12:18 PM
Real estate consultant SVN Romania expanded its activity across borders by launching the SVN Overseas division, which offers consultancy and brokerage services for dozens of residential projects, of which about 20 exclusively for Romanian buyers. In addition, the company plans to expand in Romania through 15 new regional offices in the main regional economic centres but also in Bucharest and its surroundings.
SVN Overseas closed in the last months dozens of agreements and representation contracts with real estate companies that develop premium residential and holiday projects in Bali, Bulgaria, Dominican Republic, Dubai, Spain (Costa del Sol and Costa Blanca) and Zanzibar. The company's data shows that in 2023, Romanian investors resident in Romania bought several thousand properties in Dubai and Spain alone.
The properties in SVN Overseas's portfolio have prices starting from €37,600 in Dubai, respectively €72,000 in Bali, and go up to several million euros for the most expensive properties located in Dubai and Costa del Sol. In general, the prices for a property located abroad are around the value of several thousand euros, buyers wanting to make a financial investment in order to obtain a yield from hotel rental but also to benefit from a holiday home.
”The cross-border expansion of SVN Romania's activities came as a result of the significant increase in the number of those who invest in a property located abroad. The potential yields that can be obtained from hotel administration exceed 15% per year in certain markets, such as Bali or Zanzibar, to which is added the value appreciation over time and the possibility of spending your holidays in an exotic destination. Several thousand transactions of this type are registered annually, and now we will be able to offer consultancy and brokerage services to these investors as well,” said Andrei Sârbu, CEO SVN Romania.
The company plans to expand its activity nationally by opening, in the next three years, of more than 15 regional offices in the main regional economic centres in Romania, which will offer the entire range of business consultancy and brokerage services, as well as in Bucharest, where the offices will be focused on the sale of residential properties on the secondary market – i.e. homes that go through at least the second ownership change, regardless of the delivery date – and new non-exclusive projects.
”There are numerous regional centres in Romania where the experience of a top real estate consultant is needed, combined with the information of a partner and exceptional local team. Through these offices we will also be able to offer local expertise to investors active especially in Bucharest. In addition, we want to attract new partners in the segments of office, commercial and logistics spaces, and we recently launched representation services in a non-exclusive system for residential projects,” added Andrei Sârbu.
SVN Romania currently has two regional offices, in Brasov and Cluj – Napoca. SVN Residentialist, the division active on the secondary residential market, has three offices in Bucharest and its surroundings, over 50% of the transactions brokered being resales of properties located in new residential projects. The company also closed dozens of non-exclusive representation agreements for residential projects.
SVN Romania registered last year a turnover of €8.8 million, being one of the main real estate consultants active in Romania and the company with the most extended activity of the residential segment. In its five-year activity on the local market, the company traded over 6,000 new homes directly from developers, with an overall value of €700+ million, having a portfolio of over 10 exclusive projects located in Bucharest and it the country. SVN International has over 200 offices in eight countries and regions, with over 1,600 consultants and staff.