Almost 60 pct of potential home buyers opt for new apartments (survey)

Almost 60 percent of those looking to buy a home opt for new apartments, while old apartments are losing ground in the buyers' preferences, in a market with a growing supply of new housing, for prices that have stabilized, say the analysts of real estate consulting company Imoteca The Residential Experts. 

"The data we collected shows that the prices on the new residential market have remained constant, with an equally steady sales pace. There have been small price adjustments compared to last year, with a minus 3 - 4 pct as a general average. These decreases are generally to be found in the market of high volume projects and are natural in the conditions of a big product increase," the analysts say. 

According to the survey, there have been fewer products delivered in 2018 and more off-plan products; this year's estimates point to a 40 percent increase in completed new homes, at around 14,000 units. 

"In terms of transactions, there are even bigger differences between the old and the new units. We noticed that last year, for example, out of a total of 47,500 transactions, 37,500 were for new homes," the survey shows. 

Imoteca The Residential Experts is the first one-stop-shop real estate consulting company that has been specializing in boutique projects since 2015. Imoteca Fine Living Properties offers business consulting, market research and analysis services, sales and marketing coordination services.