“I worked for a Real Estate developer and what I say is…”

During my analysis for the reality that a residential developer faces in Romania, I received many emails. One of them is very characteristic and I will share it with you today.

Mr B.R. wrote to me:

“I’ve been following your blog with great interest for more than two years. Until last summer I worked for a real estate developer (not in Bucharest) which unfortunately is struggling even now to finish a project he started in 2008. Two months ago he had to deliver the first phase of the project and they still have lots of work to do. They have been through the same stages as you describe in your latest posts. They even had to reduce the quality in order to finish on time without paying penalties! Like other developers they still keep the same prices as 2 years ago in conditions where they fail to sell anything from the beginning of the year”.