PUBLIC INVESTMENTS OF APPROXIMATELY 2 BILLION EUROS IN CONSTANTA COUNTY ATTRACT NEW REAL ESTATE INVESTORS
2023 CONSTANTA KEY FIGURES
500 MLN EUR
- Investments in Constanta port
395 HOTEL ROOMS
- Under development
1.560 EUR + VAT/SQM
- Medium price for newly built residential units
185.000 SQM
- Modern retail stock
225 - 400 EUR/SQM
- Price of lands for mixed-use developments
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AS THE CENTRAL AREA REACHES ITS LIMIT, THE CITY EXPANDS TO THE WESTERN AREA
One of the important infrastructure investments is the new Madrid boulevard, with four lanes, which will connect Tomis boulevard in the Boreal area with Aurel Vlaicu boulevard in the VIVO! area, explains Lucian Asanachescu, CEO of IMRA Real Estate. According to IMRA Real Estate, authorized land prices in Constanța vary between 225-400 Euro/sqm for mixed-use and retail developments, 55-70 Euro for logistics developments and 350-1,000 Euro/sqm for residential developments, depending on the area.
ROMANIA’S ACCESSION TO THE SCHENGEN AREA WILL HAVE A SIGNIFICANT IMPACT ON TOURIST TRAFFIC
The hotel sector totals 383 units, of which only one is affiliated with an international brand, according to data provided by Est Hospitality to RPC. “Romania’s accession to the Schengen Area will have a significant impact on tourist traffic in the Constanța – Mamaia – Mamaia Nord area and we will see many hotels that will be open all year round”, explains Mircea Drăghici, Managing Partner, Est Hospitality.
THE PSE GROUP IS ONE OF THE MOST ACTIVE LOCAL RESIDENTIAL INVESTORS IN CONSTANTA
According to imobiliare.ro, the sales prices of newly built residential units in Constanța registered a slight decrease of 2% in May 2023, compared to the same period last year, with an average price per square meter of 1,560 Euro + VAT for Constanța and 1,750 Euro + VAT for Mamaia – Năvodari.
The PSE Group is one of the most active local residential investors in Constanța with three projects in various stages of development: Lakeside Home in Ovidiu (400 apartments & 41 villas), Southside Residence in Constanța (386 apartments) and Marina Blu in Mamaia (87 apartments), a total of 914 housing units.
DEVELOPED INFRASTRUCTURE AND CONNECTIVITY ARE STRONG ARGUMENTS FOR CONSTANTA
In recent years, investments in the industrial and logistics sector have laid the foundation stone for the development of the region’s profile. Available land lots, lower labor costs, developed infrastructure and connectivity are strong arguments for Constanța. Globalworth, in partnership with Global Vision and WDP, are the main logistics investors in the area.
COMMERCIAL SPACES OF 185,000 SQM
Constanța benefits from a modern stock of commercial spaces of 185,000 sqm. The vast majority were built in the last 15 years and have benefited from ongoing refurbishment programs. The new leisure concepts both in Mamaia and in Neptun & Olimp bring new opportunities for the retail segment.
RPC CONSTANTA REAL ESTATE OVERVIEW
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