{"id":121614,"date":"2017-10-10T00:00:00","date_gmt":"2017-10-09T21:00:00","guid":{"rendered":"https:\/\/rhn.ro\/first-home-gradually-replaced-by-classic-mortgages-targeting-larger-apartments\/"},"modified":"2026-03-28T12:22:03","modified_gmt":"2026-03-28T10:22:03","slug":"first-home-gradually-replaced-by-classic-mortgages-targeting-larger-apartments","status":"publish","type":"post","link":"https:\/\/rhn.ro\/en\/first-home-gradually-replaced-by-classic-mortgages-targeting-larger-apartments\/","title":{"rendered":"First Home \u2013 Gradually Replaced by Classic Mortgages, Targeting Larger Apartments"},"content":{"rendered":"

First Home \u2013 Gradually Replaced by Classic Mortgages, Targeting Larger Apartments<\/p>\n

In the rush for more spacious apartments, Bucharest residents are giving up on the “First Home” (Prima Casa) program and are instead turning towards real estate and mortgage loans. The number of those financing their homes this way has increased by 30% in the last year, leading developers to believe this behavior will dominate the future, at least as long as household incomes continue to rise.<\/div>\n
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Bucharest is gradually becoming a city of new apartments. At least among young people, this is the trend. This is precisely why there is a need for new, varied constructions that satisfy all categories of clients. A single developer can hardly meet the diverse market demands, but several developers working as a team \u2013 not as rivals \u2013 can build impressive projects. One such example is Metalurgiei Park Residence, where the sale of the entire land area intended for the first phase of the project, namely 25 hectares, has just been completed. In total, 5,000 homes will be delivered in this phase of the project, of which 4,000 are already completed. Based on this sample of clients, developers have conducted relevant market studies that can improve the quality of real estate complexes throughout the city.<\/div>\n
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“The main demand from clients is for three-room apartments, with prices that can easily reach 70,000-80,000 euros. At this amount, clients find it easier to finance through real estate and mortgage loans; a First Home loan is no longer advantageous. As proof, only 50% of acquisitions are made through First Home, compared to 80% last year. Of course, it remains a significant share, but it is in clear decline,” Bogdan Ivan, representative of Sud-Rezidential, told IMOPEDIA.ro.  <\/div>\n
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In the second phase of the project, Sudrezidential.ro will provide interested real estate developers with an additional 25 hectares to begin construction work on Phase II of Metalurgiei Park Residence, which will ultimately generate approximately 4,000-5,000 apartments for new home buyers. The same number was allocated to the first phase of the project, where 4,000 apartments have already been sold.<\/div>\n
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“We are happy to have reached this stage of the project, and this motivates us to continue. It is the perfect place, if not the only place where such a project could be developed, because the surroundings are perfect for residential use: metro, supermarket, schools, kindergartens, market, etc.,” continues Bogdan Ivan.<\/div>\n
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Within the project, apartment prices start at approximately 950 euros\/sqm usable area with 5% VAT included, and the cost of a parking space is 1,500 euros plus 20% VAT. The client profile is represented by young families or young employees, newly married couples up to 40 years old, usually corporate employees in Romania or public officials, primarily interested in a new two- or three-room apartment.<\/div>\n

Source: Imopedia\/Media<\/a><\/p>\n

Frequently Asked Questions<\/h3>\n

Why is the popularity of the First Home program declining?<\/strong><\/p>\n

Popularity is declining because buyers are seeking larger, more expensive apartments for which classic mortgage loans offer more flexible financing terms.<\/p>\n

What is the buyer profile in Metalurgiei Park Residence?<\/strong><\/p>\n

Buyers are typically young families or professionals under 40, employed in corporations or the public sector, looking for new housing options.<\/p>\n

What amenities are available in the project area?<\/strong><\/p>\n

The project benefits from proximity to metro stations, supermarkets, schools, kindergartens, and public markets.<\/p>\n","protected":false},"excerpt":{"rendered":"

First Home \u2013 Gradually Replaced by Classic Mortgages, Targeting Larger Apartments In the rush for more spacious apartments, Bucharest residents are giving up on the “First Home” (Prima Casa) program and are instead turning towards real estate and mortgage loans. The number of those financing their homes this way has increased by 30% in the…<\/p>\n","protected":false},"author":0,"featured_media":66919,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2857],"tags":[],"thb-sponsors":[],"class_list":["post-121614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transactions"],"article_style_override":"","post-style":"","post_via":"","post-top-image":"https:\/\/rhn.ro\/wp-content\/uploads\/2019\/11\/tranzactii-2.jpg","_links":{"self":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/121614","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/comments?post=121614"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/121614\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/66919"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=121614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=121614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=121614"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=121614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}