NEPI Rockcastle says it has reached a 35% sale rate for its first residential project in Bucharest in the first seven months of development.
Close to half of the sales contracts in Vulcan Residence were closed for 2-room apartments, followed by 3-room units.
“In the residential sector, from what we have seen in recent months, demand is on the rise and people’s preferences are moving towards quality more than ever, whether we are talking about the construction or the finishes,” said Iulian Rusu, Head of NEPI Residential.
The developer’s representatives said the price of construction materials was secured for the whole project so the final sale prices will not be impacted.
Vulcan Residence will include 254 and is slated for delivery in the third quarter of 2023. NEPI Rockcastle’s investment in the project stands at around €22 million.