Diego Stuyck, a shareholder of Mantor Group: In Bucharest, there is only the impression that a lot is being built, as for too many years nothing has been built. The potential is much greater.
- October 3, 2018
“Even in Bucharest, there are cranes, but there could be much more. In Madrid, it’s a crisis and it is being built twice as much.”
Diego Stuyck, a shareholder of Mantor Group in Spain, having both a constructions company, as well as others of residential development and property management, says that Bucharest becomes interesting again for developers of residential projects, as prices returned in an acceptable area both for them, and for the clients.
“Now it seems that in Bucharest a lot is being built, but the impression is due to the fact that, for a long time, nothing has been built, but the potential is much greater. Now, for example, the prices are correct. A price of 1,300 euros per square meter is correct. What was ten years ago at 2,000 – 2,500 euros/ square meter, that was not a fair price, it was not real for Romania”, says Diego Stuyck. For almost seven years in the real estate market in Romania, things didn’t work out too much, he adds. Now, things started to work out again.
“Even in Bucharest there are cranes, but there could be many more. In Madrid, it’s a crisis and it’s being built twice as much”, underlined Stuyck.
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