ARTICLES LABELLED WITH TAG residential

Average asking prices of new and old apartments in Romania fell by 0.2% in November compared to the previous month to €1,704 per sqm, with Constanța, Iași and Cluj-Napoca recording slight gains of prices, according to Imobiliare.ro. 

Berlin-based property developer firm Bauwert AG is entering a strategic partnership with Hungary’s Wing Group, as well as international investment & asset manager Griffin Capital Partners. For this purpose, the three companies signed an agreement under which Wing and Griffin will together acquire 60% of Bauwert’s shares. The remaining 40% will be kept in the ownership of the existing shareholders. Wing Group will have a controlling interest in the company.

Romanian property company Ideal Residence Developer has announced the launch of Marina Snagov comprising 33 luxury villas on the shores of Snagov lake near Bucharest. The company will invest over €12 million in the complex that is slated for delivery at the end of 2024.

LivUp has finalized the purchase of a property in Kraków from Galinvest. The new LivUp project will include about 80 residential apartments for long-term rental, as well as additional amenities and facilities. The first tenants are expected to move in by Q2 2023.

Hungarian developer Wing launched its umbrella brand Living 5 years ago. Nine residential development were started, and over 1,200 apartments have been sold so far. The company also has several other developments in the pipeline.

Romanian company Rock Development has started the construction of the second phase of Avrig Park Residence in Bucharest with an investment budget of €23 million. 

Czech real estate fund Investika has decided to take another step in diversifying its real estate portfolio. Its latest acquisitions are luxury properties in Croatia for short-term rentals.

Pedro Construct, one of the largest construction companies in Romania, led by businessman Petre Niculae, is developing - together with his associate Florin Ababe - a new residential assembly in the north of the capital, Jolie Village. The investment in the project is estimated at €21 million and for €12 million, the company has obtained financing through Libra Bank.

Mihály Schrancz, the CEO of Hungarian real estate development company Property Market has stepped down. The move was unexpected and no new leader has been announced yet.

Resi4Rent has secured a €50 million loan from the European Bank for Reconstruction and Development (EBRD) for new investments in the institutional rental market in cities hosting refugees from Ukraine, the company said. This is the first EBRD financing for the institutional rental sector (PRS) in Poland.