Sales of new apartments in Bucharest drop by more than half in 2008
22 January 2009
Some 3.500 new apartments were sold in Bucharest last year, out of which 3,000 in the first half of the year, while 7.300 new apartments sold in 2007, Colliers International said.
Sales in last year's fourth quarter dropped significantly, consulting company informed.
''The fourth quarter of 2008 registered the lowest sales level since 2005,'' Ilinca Paun, Head of the Colliers Residential Division, said.
In the fourth quarter of 2008, Colliers sold only seven apartments, while DTZ Echinox’s sales dropped by 47 per cent and Coldwell Banker sold 70 apartments.
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