RCB Consulting & Development: "the Real Estate Market Is Facing a Shutdown"

The most important real estate developer in Transylvania, RCB Consulting & Development SRL - Sancraiu de Mures, part of Group Benta Group, claims that the real estate market has come to a standstill. CEO Remus Benta Jrsaid: "If last year 70 flats were sold per month, this year there will probably be just seven per month. As far as our projects are concerned, both sales and constructio are on schedule. Last year, we started a far-reaching project of 40 million Euro in Targu-Mures. The project has 280 homes, plus 10,000 square meters of commercial space on the ground floor. According to Agerpress, Benta said that this was quite a difficult period for the real estate market, especially because most business people, be they in the constructionb business or not, believed the future was not so bright. "What is going on is quite normal. We are extremelly emotional and, if someone says on TV or on the radio that the real estate market is crashing, the world stops and waits to see what is going to happen. For our projects, we have both building permits and financial resources. We ceased no project and we do not intend to do so," Benta added. Remus Benta Jr. foresees a setback of the communist-built apartment market, considering that an apartment built in 1985 has the same price, if not bigger, as onebuilt in 2004 or 2008. He also specified the anomaly of the real estate market, at least that in Targu-Mures, where statistics show that the price for a square meter is 930 Euro in a new building and 1,300 EUR in an old building. Real estate experts from Targu Mures claim that, because of their price, new flats show are more appealing to customers than old flats, so the price of the old ones has dropped 20%.