More Real Estate: The real estate market shall reach the lowest rate in 2010; More Real Estate: Piata imobiliara va atinge punctul cel mai de jos in 2010
The real estate market in Romania shall reach the lowest rate in the first part of 2010, after the transactions shall start again, and in 2011 it shall return to normal, stated Ilias P. Papageorgiadis (photo), CEO at the real estate consulting company More Real Estate.
"By normal situation, I don’t mean that we shall see dozens of foreigners coming to Romania to buy just about anything ", he said.
Most buyers are still afraid to buy, because they have lost their trust in the market.
"By normal situation, I don’t mean that we shall see dozens of foreigners coming to Romania to buy just about anything ", he said.
Most buyers are still afraid to buy, because they have lost their trust in the market.
"Piata de real estate din Romania va atinge punctul cel mai de jos in prima parte a anului 2010, dupa care tranzactiile se vor relua, iar in 2011 va reveni o situatie normala", a declarat Ilias P. Papageorgiadis, CEO la compania de consultanta imobiliara More Real Estate.
"Situatie normala nu inseamna ca vom vedea iarasi zeci de mii de straini care vor veni in Romania sa cumpere orice proprietate", a mai spus acesta.
Majoritatea cumparatorilor inca manifesta frica sa achizitoneze pentru ca si-au pierdut increderea in piata.
"Sunt sigur ca ati intalnit oameni care au spus ca piata isi va reveni in 2-3-4 luni, insa eu cred ca nu va fi asa curand, deoarece atunci cand vorbim despre comparatori, majoritatea inca actioneaza cu frica. Nu pentru ca nu gasesc oportunitati, ci pentru ca si-au pierdut increderea in piata, dupa ce s-a intamplat in 2007-2008", a adaugat Papageorgiadis.
Recent, prin compania pe care o conduce, Papageorgiadis a achizitionat proprietati care sa aduca venituri din chirii.
Acum, la jumatatea anului 2009, situatia din piata ramane aproape "inghetata", a aratat acesta.Toti astepta ca preturile sa mai coboare, pentru ca astazi nu este niciun semn ca lucrurile se vor imbunatati."Cele mai multe tranzactii se realizeaza cu spatii comerciale si terenuri, nu aud prea multe tranzactii pe zona rezidentiala, pentru ca inca preturile nu sunt la nivelul pe care investitorii il doresc in majoritatea locurilor", a spus Papageorgiadis.
Cum a inceput blocajul pietei imobiliare?
"Oamenii spun ca piata de real estate din Romania a coborat din cauza crizei financiara. Este complet irelevant, doarece balonul imobiliar s-ar fi spart si fara criza financiara. Pe fondul pierderii conexiunii cu realitatea, in anii 2007-2008, toti vindeau la preturi exagerate", a spus Papageorgiadis.
"Piata de real estate din Romania a trebuit sa se duca in jos pentru este una din cele mai importante ramuri pentru economie. Aceasta importanta industrie era blocata, asa ca trebuia sa se intoarca la realitate, la preturi normale, pentru a avea din nou investitii", a adaugat acesta.
Compania de consultanta imobiliara More Real Estate Services s-a stabilit in Romania in 2004 si a acordata consultanta imobiliara pentru tranzactii in valoare totala de peste 400 milioane euro, de la infiintare si pana in prezent. Mai mult de o treime din aceste tranzactii s-au efectuat in afara Bucurestiului, in 15 orase din tara.
In 2008 compania a oferit consultanta pentru operatiuni imobiliare de aproximativ 150 milioane de euro.
Ilias P. Papageorgiadis si-a lansat propria carte, "Romania through my eyes", care cuprinde o colectie a celor mai bune postari despre piata de real estate, de pe blogul sau, realinromania-blog.com din 2008."I am certain that you have met people who said that the market shall make its comeback in 2-4 months, but I don’t think that it shall happen so soon, because when we speak about buyers, most of them are still afraid. Not because they don’t find opportunities, but because they have lost confidence in the market, after the events from 2007-2008", added Papageorgiadis.
Recently, by the company that it is managing, Papageorgiadis has purchased properties generating income from rents.
Now, halfway through 2009, the situation on the market continues to be “frozen”, he stated.
Everybody is expecting for the prices to lower, because there is no sign that the works shall improve.
"Most transactions shall involve commercial spaces and land plots, I haven’t heard of many transactions in the residential sector, because prices are not at the level desired by the investors in most places”, said Papageorgiadis.
How has the block of the real estate market started?
"People say that the real estate market in Romania has lowered due to the financial crisis. It is completely irrelevant, since the real estate bubble would have burst even without the financial crisis. Due to losing touch with reality, in 2007-2008, everybody sold at exaggerated prices ", said Papageorgiadis.
"The real estate market in Romania had to go down, because it is one of the most important economic branches. This important industry branch was blocked, so that it had to come back to reality, to normal prices, so as to initiate investments again ", he added.
The real estate consulting company More Real Estate Services was founded in Romania in 2004 and has offered real estate consulting services for transactions with a total value of more than 400 million Euros, from its foundation and until the present time. More than one third of the transactions occurred outside Bucharest, in 15 national towns.
In 2008 the company offered consulting services for real estate operations of approximately 150 million Euros.
Ilias P. Papageorgiadis has launched his own book, "Romania through my eyes", including a collection of the best posts about the real estate market from his blog, realinromania-blog.com from 2008.
Online daily business publication
"I am certain that you have met people who said that the market shall make its comeback in 2-4 months, but I don’t think that it shall happen so soon, because when we speak about buyers, most of them are still afraid. Not because they don’t find opportunities, but because they have lost confidence in the market, after the events from 2007-2008", added Papageorgiadis.
Recently, by the company that it is managing, Papageorgiadis has purchased properties generating income from rents.
Now, halfway through 2009, the situation on the market continues to be “frozen”, he stated.
Everybody is expecting for the prices to lower, because there is no sign that the works shall improve.
"Most transactions shall involve commercial spaces and land plots, I haven’t heard of many transactions in the residential sector, because prices are not at the level desired by the investors in most places”, said Papageorgiadis.
How has the block of the real estate market started?
"People say that the real estate market in Romania has lowered due to the financial crisis. It is completely irrelevant, since the real estate bubble would have burst even without the financial crisis. Due to losing touch with reality, in 2007-2008, everybody sold at exaggerated prices ", said Papageorgiadis.
"The real estate market in Romania had to go down, because it is one of the most important economic branches. This important industry branch was blocked, so that it had to come back to reality, to normal prices, so as to initiate investments again ", he added.
The real estate consulting company More Real Estate Services was founded in Romania in 2004 and has offered real estate consulting services for transactions with a total value of more than 400 million Euros, from its foundation and until the present time. More than one third of the transactions occurred outside Bucharest, in 15 national towns.
In 2008 the company offered consulting services for real estate operations of approximately 150 million Euros.
Ilias P. Papageorgiadis has launched his own book, "Romania through my eyes", including a collection of the best posts about the real estate market from his blog, realinromania-blog.com from 2008.
Online daily business publication, 06/06/2009