Local market welcomes Western-style real estate transactions Significant house price growth in Romania Real estate prices keep growing

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Real estate prices keep growing

2007-04-19
Bucharest - The prices on the domestic real estate market will continue to grow in the next 15 years due to the low development pace. The high request and the level of the incomes encourage the increase in prices for real estate properties, representatives of the real estate company Arco Real Estate Consulting, owned by Estonian investors, told Mediafax on Wednesday.

Bucharest - The prices on the domestic real estate market will continue to grow in the next 15 years due to the low development pace. The high request and the level of the incomes encourage the increase in prices for real estate properties, representatives of the real estate company Arco Real Estate Consulting, owned by Estonian investors, told Mediafax on Wednesday.

The representatives of Arco company expect values of EUR 10 000 on sqm in the historical centre of the capital in the next three or four years. The highest prices on the Bucharest market are registered on the properties located in areas like Kiseleff and Primaverii and reach EUR 3000-3500 on sqm. Arco is present on the Romanian market since October 2006 and it is owned by the companies Arco Vara, one of the most important groups on the real estate business in the Baltic countries and IPC Real Estate, an international company of real estate investments.