May is the first month of 2009, when the results of the same period of 2008 are exceeded
Bucharest, June 2009
Taking into account the level of the contracts signed, the monthly results, during January-April 2009, were below those obtained in the same months of 2008. With 18 contracts signed, May 2009 is the first month which exceeds, in terms of volume and value, the related period of the previous year.
IMPACT Developer & Contractor (IMPACT) registered in May 2009, 18 transactions with a total value of 8.6 million lei (VAT included), thus exceeding, for the first time this year, the results related to the same period of 2008, (May 2008), when transactions in amount of 1 million lei (VAT included) had been concluded.
"It is a a sign of a slight recovery. The first sign has been at the end of March, when the results on the first quarter have exceeded the initial estimates. This second sign shows us that we have somehow overcame the most difficult period so that the forecast for the next period remain optimistic. During this period, the pressure as exercised by the need for housing has caused an increase in the number of transactions. At the same time, the accessible values of the dwellings, along with the flexibility of the financial solutions were the key factors in customers interest increase", said Carmen Sandulescu, CFO of IMPACT Developer & Contractor.
Of the total units purchased, about 55 % have been contracted with full payment (financed with own sources, loan from the developer or bank loans), with a 21 % increase compared to the beginning of the year.
The rest of them have turned to the dwelling solutions provided by IMPACT.
"10 of the houses have been contracted with full payment, which is a sign relating to the fact that the access to bank financing gets back on track. At the same time the customized and flexible solutions of the developer keep on meeting the current requirements of the beneficiaries, so that 45% of the transactions of May have been concluded due to the dwelling solutions, provided by IMPACT. The CALLBUY programe - renting with the possibility of buying - keeps on being the most prefered solution by the buyers, and which best meets the actual payment possibilities of the Romanian people", Sandulescu explains.
After the decrease of the VAT, from 19 % to 5 %, as of the beginning of the year, the dwellings market values have kept at a constant and stable level. For the Greenfield project, located in the Northern of the Bucharest, the price/sqm. (the VAT included price for a built up square meter including: the land below the dwelling, the land for roads, the land for common - social areas, the utilities, parking spaces, playgrounds, the actual construction, green areas and landscaping), is somewhere around the value of 1.200 Euros / sqm.
ABOUT GREENFIELD:
Located in the northern area of Bucharest, bordered on two sides by Baneasa and Tunari Forests, the Greenfield I Projects was started in September 2006 and comprises 676 residential units. 500 units from the Greenfield I have already been sold. They are divided in 5 compounds (Rubin, Topaz, Onix, Blue, Quartz) it is developed on 10 ha. Greenfield I represents the first stage of an project that will be developed on 60 ha. The delivery of the units has begun in the spring of 2008 with Rubin and Topaz Compounds. In December 2008 there have started to be delivered the apartments in Onix compound, and since February 2009 have started the delivery in Blue compound. The apartments in Quartz compound will be delivered starting with June 2009.
ABOUT IMPACT DEVELOPER & CONTRACTOR SA:
IMPACT Developer & Contractor SA is the most innovative Romanian real estate company. IMPACT provides housing living solutions which involve different residential products, with individualized financial solutions, with multiple ways of contracting and managing complex services. Founded in 1991, IMPACT is listed on the Bucharest Stock Exchange and is one of the best known companies in Romania in the real estate sector and capital market. Since 1996, when IMPACT introduced the concept of "residential compound" to the Romanian market, IMPACT developed 16 compounds in 5 cities, with more than 2,000 houses and apartments and 25,000 sqm of offices and commercial spaces.
