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Luxury market to account for almost 20 pct of Romania's total housing supply in 2023 (analysis).
The luxury market accounts for almost 20% of Romania's total housing supply this year, 90% of which is in Bucharest, say representatives of some real estate companies, told Agerpres.
About 50% of real estate transactions were made in cash, and developers maintain that more than 70% of them were for medium-high and luxury apartments or for the most expensive homes in a complex, namely the exact opposite of the trend so far, shows data from the National Cadastre and Real Estate Publicity Agency (ANCPI) presented in the analysis.
According to real estate market specialists, the most important criteria that make up the price of a luxury apartment are still the neighbourhood, its size and finishes.
Unique details, on the other hand, make the difference, and customers are turning to homes that offer more special related amenities.
In recent years, most developers of luxury residential projects choose to work with renowned architecture and design specialists. For example, Ecovillas has chosen an internationally award-winning architect, Maxim Calujac, for its latest luxury project in Pipera, with whom they have built a concept that is the first of its kind in Europe: houses in the form of a bookshelf.
For the Epique home project, Ecovillas will also offer residents some luxury amenities that cannot be found in standard projects, such as a geothermal heat pump - a system that uses the renewable energy of the earth to provide heat through holes drilled deep into the ground, a new central vacuum system and a ventilation system with heat recovery, as well as infrastructure for electric car charging sockets and photovoltaic installations.
According to the analysis, related amenities for luxury housing include: triple-layered hardwood flooring, marble, decorative natural stone, natural paint, ceramic tiles, decorative elements made of natural materials, "branded" gold or silver-plated utilities, custom sink faucets, silver mosaic, decorative elements made of stones, precious metals and natural fibres, precious metal-blown utilities
Also on the list of amenities are: designer/branded furniture, extra amenities such as jacuzzi, air curtain at the entrance, vacuuming through the walls and custom architecture, i.e. loft-style houses, compartmentalization adapted to the client's lifestyle.
