In the southern seaside, investments exceeding €250 million are expected.
In the resorts of Neptun, Jupiter, Venus, Saturn, and Olimp, investments of over €250 million will be made in the coming years.
Over 250 real estate developers from Constanta will direct their investments into hotels, apartments, restaurants, and other facilities, representing mixed-use real estate projects.
Investors in the tourism and real estate sectors are heading towards the southern seaside, as the north is crowded with buildings but has utility infrastructure—including gas, electricity, streets, road and rail public transport—far from the desired state.
In addition to these, there are logistical problems, overcrowding, fewer parking spaces than necessary, and a reduced number of tourist facilities.
On the coast, according to data provided by the Ministry of Finance, companies in Constanta County operating in the real estate development sector had a net turnover of 583.8 million RON, compared to a net turnover of 2.87 million RON in 2010.
Frames estimates a turnover of 610 million RON last year and over 650 million RON for this year for the approximately 255 real estate development companies in the county.
The net profit reported in 2020 is 254.3 million RON, compared to 194,146 RON in 2010.
Real estate development is limited by local development plans, requiring the provision of access roads, utilities, and green spaces.
In the southern seaside, beaches have been expanded and infrastructure works have been financed through European funds.
There are plans to build a seaside highway and develop the Tuzla airport.
Over 100 projects and investment plans worth approximately €250 million for the coming years represent extremely important real estate development.
Thus, other businesses will be attracted to the area, leading to the economic growth of the region.
Price ranges for projects under development are between €75,000 and €85,000 for a 45-55 sqm studio, between €75,000 and €170,000 for 2-room apartments with areas between 55-90 sqm, and between €280,000 and €1,120,000 for penthouses between 135 and 450 sqm.
The price of holiday or investment apartments has reached around €140,000, following the reduction of VAT to 5%.
Frequently Asked Questions
Which resorts are benefiting from these investments?
The investments are focused on the southern resorts of Neptun, Jupiter, Venus, Saturn, and Olimp.
Why is investment shifting to the southern part of the coast?
Investors are drawn by expanded beaches, EU-funded infrastructure, and the lack of overcrowding compared to the northern seaside.
What is the price range for real estate in these areas?
Prices range from €75,000 for studios to over €1.1 million for premium penthouses, with average investment apartments around €140,000.