FSBOs vs. Real Estate Agents. Do agents really sell homes for 13% more?
22 April 2015Have you seen the claim that “research shows” that real estate agents sell homes for 13% higher prices than people who sell their homes themselves? Does that seem right to you? I wouldn’t be surprised if real estate agents sold homes for prices that are a few percentage points higher than homes sold directly by homeowners but 13% more didn’t seem plausible to me. So being a trained economist, in addition to being a real estate agent the last 12 years, I decided to track down the origin of this beloved real estate agent data point. Note: A home the owner is selling directly to buyers without using a real estate agent is called a “For Sale By Owner” or “FSBO” by real estate agents.
Middle East investors looking for agri investments Black Sea region
30 January 2019Our company has been approached by 2 Middle Eastern investment groups interested to acquire/participate in agricultural business in the Black Sea region.
Underground Subway Metro Map Bucharest Romania
25 January 2019The Bucharest Metro (Romanian: Metroul București) is an underground rapid transit system that serves the capital of Romania, Bucharest. It first opened for service on 19 November 1979. The network is run by Metrorex. One of two parts of the larger Bucharest public transport network, Metrorex has an average of approximately 500,000 passenger trips per weekday, compared to the 2,650,000 daily riders on Bucharest's RATB transit system. In total, the Metrorex system is 71.35 kilometres (44.3 mi) long and has 47 stations
Futureal Group exits retail project ParkLake and powers ahead in the real estate market of Bucharest through Cordia
26 November 2018Futureal Group exits retail project ParkLake and powers ahead in the real estate market of Bucharest through Cordia Futureal Group announces an exit worth 19 million euros from the retail project ParkLake, developed by Sonnae Siera and Caelum Development. Futureal participated in the development of ParkLake by financing Caelum Development, the latter controlling 50% of the shopping center. Futureal Group will intensify its activity in Romania through its residential investments brand, Cordia. The company has recently announced a 50 million EUR worth of investment plan in Bucharest for the next year, part of a long-term roadmap for the local market. Cordia division plans to deliver about 500 apartments per year, designed for medium and medium high segments.
One United Properties received the building permit for One Herastrau Towers
22 October 2018One United Properties received the building permit for One Herastrau Towers One United Properties, a real estate developer for exclusive residential and office buildings in Bucharest, founded by Andrei Diaconescu and Victor Capitanu, has been granted the building permit for One Herastrau Towers. The company has already begun preparations for the construction of a mixed set of housing, office and trade units. Located on the site of an abandoned building that has already been demolished by One United Properties, One Herastrau Towers will have a contemporary contemporary design with high-quality finishes, plus the benefits of green buildings.
How much does it cost to demolish Bucharest’s most controversial office building?
29 April 2015How much does it cost to demolish Bucharest’s most controversial office building? Bucharest local authorities would have to pay EUR 100 million to demolish the controversial office building Cathedral Plaza, according to Greek investor Ioannis Papalekas, the building’s current owner. A Romanian court ruled in 2013 that the Bucharest City Hall should demolish the building, which is located in one of the city’s central areas. The reason was that the developers allegedly didn’t have a valid construction permit.
Expat of the day: Romania’s Greek “office king” makes EUR 2.6 mln a year
3 September 2015Expat of the day: Romania’s Greek “office king” makes EUR 2.6 mln a year Greek Ioannis Papalekas, one of the most powerful real estate investors in Romania, made over EUR 2.6 million last year as CEO of Globalworth, a real estate investment firm that is listed on London Stock Exchange’s AIM market, according to the company’s annual report. Most of this sum represents bonuses related to the company’s results in 2014, which Papalekas received in cash and shares.
The Three Classes of Office Buildings
3 December 2018The Three Classes of Office Buildings Not all office buildings are created equal – which is why a general classification system exists to categorize them by age, amenities, aesthetics, and general infrastructure. Commercial real estate brokers use these classes to prepare market data and justify the cost of leases within the building.
ROMANIAN REAL ESTATE MARKET REPORT Q3 2018
1 November 2018ROMANIAN REAL ESTATE MARKET REPORT Q3 2018 By http://www.analizeimobiliare.ro/reports/ Access first hand information about the dynamics of the Romanian real estate market. Every quarter, we analyse the most important indicators on the Romanian real estate market in order to help investors better plan their businesses in Romania or real estate professionals be up to date with the latest market trends.
19032018 Coldwell Banker: Residential developers in Bucharest and its surroundings invest EUR 750 M in new houses
19 March 2018Coldwell Banker: Residential developers in Bucharest and its surroundings invest EUR 750 M in new houses 2018 has all the ingredients to be the most prolific year of the local residential market in its modern history. This year, the residential market will reach the highest level of maturity so far, according to the latest ’Residential Market Beat 2018’ report released by Coldwell Banker Romania. If, in 2015, almost 17 percent of the residential projects developed in Bucharest and its surroundings targeted the middle market, about 37 percent of the new offer developed in 2017 was for the same segment, according to Coldwell Banker Romania.
Romania The country where 96% of homes are privately owned
20 November 2018Romania ranks first in the world for private home ownership. But that doesn’t mean buying a home is easy. Romania touts the highest rates of home ownership in world. According to Eurostat data, 96% of Romanians live in owner-occupied dwellings. But government policies, economic shifts, fewer rental opportunities and mounting social pressure to become a homeowner means the experience of owning a home in Romania has been wildly different across generations.
Real estate developer Speedwell starts construction on Record Park in Cluj-Napoca, an EUR 42 mil. investment
26 November 2018Real estate developer Speedwell starts construction on Record Park in Cluj-Napoca, an EUR 42 mil. investment Real estate developer Speedwell has started the construction works for Record Park, the first mixed-use development and urban regeneration project in Cluj-Napoca. The development process will involve an investment of EUR 42 million, and the entire project is due in the second quarter of 2020.
Romanian investors launch EUR 10 mln apartment project in Mogosoaia forest
27 November 2018Romanian investors launch EUR 10 mln apartment project in Mogosoaia forest Ecovillas, a real estate developer controlled by Romanian investors, will invest EUR 10 million in a residential project in the Mogosoaia forest, North of Bucharest. The project, called LOFT Green Apartments, will have a total of 154 apartments with one, two and three rooms and a 3,000 sqm-park.
Romania celebrates 100 years since the Great Unification
29 November 2018In 2018 Romania celebrates 100 years since the Great Unification. 1918. It is the year with the most anniversaries of events from Romania’s multi-millennia history. The Great Unification in 1918 resulted in all the historical provinces inhabited by Romanians to get together, within one single country, Romania.
06.11.2018 Buildings classified in various degrees of seismic risk in Bucharest
6 November 2018Buildings with seismic risk in Bucharest represent an old problem on the public agenda of the capital for years. It seems that in Bucharest, in the past 27 years, the local authorities have rehabilitated only 20 buildings due to the insufficient number of specialists (only 8 people) from the mayor's office dealing with this problem. To solve this problem, the City Hall set up in 2017 two entities, with 263 employees, carrying out actions dedicated to this area.
Onix Park delivers the first 600 homes in 2019 following an investment of 32 million euros
22 November 2018Onix Park delivers the first 600 homes in 2019 following an investment of 32 million euros The first 600 apartments in Onix Park North Area Residence, the largest residential complex in construction in the Aviatiei area – Pipera Road, will be delivered in 2019, following an investment of 32 million euros, both in the construction of homes of facilities.
The Villa of the poet Octavian Goga, arch. Horia Creangă
7 November 2018Designed by the pioneer of modern Romanian architecture, at the command of the Interwar Romania's last Prime Minister, the Octavian Goga Villa is one of the iconic houses in Bucharest. Named after its first owner, the great poet and Transylvanian politician, the villa was built between 1936 and 1938.
Mazars short guide of moving to Romania: Tax perspective
7 November 2018Given the membership to the European Union, Romania has a fully integrated employment market within the Single EU market and, as such, citizens of EU countries can freely come to Romania, reside here and perform activities, either as freelancers or employees of Romanian employers, as well as non-resident employers.
Merchant's House, vestiges dating back to the 14th century
5 November 2018The Merchant’s House on Turnului street in Sibiu has its beginning in the fourteenth century. It has been accurately dated by specialists after the remains of a Gothic sprocket found in the attic of the house. Located in one of the most picturesque areas of the old town, in the "Lower Town", in a historic square, the building is part of the small circle of urban residences, built between the 1300s and the 1400s. In comparison, the oldest house in Bucharest, the Melik House – currently Theodor Pallady Museum, has a history of only 250 years.
Residential developer plans EUR 50 mln investments in Romania
1 November 2018Cordia Romania, the residential investment division of Futureal Group, has a EUR 50 million investment plan for the next year on the local market, part of a long-term development roadmap. “Romania will play a key role in the development of Cordia’s operations at regional level”, said Mauricio Mesa Gomez, CEO Cordia Romania and Member of the Board Cordia.
US company opens cyber research & development center in Romania
1 November 2018New-York based analytics company Verint Systems announced on Wednesday, October 31, the opening of a Cyber Intelligence Research and Development center in Romania. The new R&D center will be located in the Astoria Business Center in Bucharest, and Verint expects to hire dozens of employees over the course of 2018 and 2019.