Lands near the Capital: 80 to 300 euros per sq.m.

The lands suitable for residential buildings in the localities near Bucharest cost between 80 and 300 euros/sq.m., declared for NewsIn representatives of the real estate company EuroMetropola.

According to the EuroMetropola representatives, in the localities north of Capital, such as Corbeanca, Balotesti or Saftica, prices vary between 100 and 250 euros/sq.m., while in Dragomiresti, Sabareni, Zurbaua, Rosu and Chiajna, situated in the west of Bucharest, a square metre of land sells fro 80-200 euros/sq.m. In the east of the Capital, in Cernica and Pantelimon, the price of the lands suitable for residential buildings varies between 200 and 300 euros/sq.m., and in the south area - Popesti Leordeni, Berceni, Frumusani or Jilava, locals sell the land for 150 - 300 euros/sq.m..

Real estate specialists believe the trend will continue to rise this year, by around 15-20%, and the tendency of the investors to migrate towards the limitrophe areas of the Capital. "At present, land cost already represents 30-40% of the final selling price of a dwelling.   In addition, a built square metre for the medium and medium plus classes amounts to 700 euro from the constructor's perspective, that is materials and labour etc. The purchase price of an individual house is higher than an apartment in a block, because it also includes the cost of the land the owner will have to pay", declared the EuroMetropola representatives.

Analyst Radu Zilisteanu, representative of the Romanian Association of Real Estate Agencies (ARAI), thinks land prices became prohibitive, which makes more and more people to chose buying land in the remote areas of the Capital. "Lands increased their value very much in the recent years and, at present, sell for prices that do not comply with their value. Those willing to build dwellings choose localities such as Domnesti or Voluntari where land plots are traded for up to 300 euros/square metre", Zilisteanu told NewsIn.

As regards the land plots inside the city, EuroMetropola real estate analysts believe prices may grow even more in 2008, and the investors will continue to struggle for the former industrial platforms that, due to their large areas, are suitable for the development of residential ensembles or mixed residential - office - retail projects. Last year, a square metre of land in Bucharest was traded for sums between 2000 and 3500 euros.

Curierul National