The best ratio between the number of employees working in an area and the number of residential units under construction, programmed to be delivered in 2019, is achieved in Militari – West, 8 to 1, while in Dimitrie Pompeiu – Pipera South is registered the weakest ratio, of 110 employees for every apartment under construction.
”The constant increases in revenues determined investors to build in areas closer to the large business office parks from Bucharest. Thus, the share of the middle market segment, represented mainly by residential projects located near an office project, increased from 17% in 2015 to 51.5% this year. There are pre-requisites for reaching a balance between the offer and request, especially in areas like Barbu Vacarescu – Aviatiei, Politehnica or Timpuri Noi, which must translate into a need for more thorough investors plans”, stated Andrei Sarbu, CEO SVN Romania.
In the most important office pole from Bucharest, Barbu Vacarescu – Aviatiei, will be delivered 2,000 residential units by the end of the year, which translates into a ratio of 14 employees for every delivered unit. At the same time, SVN’s data show that 4,000 additional residential units are planned for the immediate period.
The significant increases in office deliveries in Grozavesti areas led to a ratio of 36 employees for every apartment due to be delivered in 2019, while in Expoziei, another relatively new office destination from Bucharest, there are 13 employees for every units programmed for delivery – the biggest share of office deliveries are programmed for the next years.
Moreover, Expozitiei, Grozavesti and Dimitrie Pompeiu – which has the weakest ratio, of over 110 employees working here for every apartment under construction – have a higher development potential, taking into consideration the absence of dwellings delivered prior to 1990.
”Although we all want a stock of residential units destined exclusively for renting, the disproportionate reports existent at this moment translates into a constant request and, in the absence of macroeconomic dysfunctions, investors will continue to develop primarily for selling. On short to middle term we will assist to an increase of mixed projects, with office, commercial spaces and residential units under the same roof, and also to new development destinations within the city, such as Bucur Obor or the East of Bucharest”, added Andrei Sarbu. (source: SVN Romania)