Affordable Housing In Romania

More and more of the population in Romania are looking to buy their own homes, but with the increasing demand for affordable housing, it is becoming evident that there is a shortage of properties actually available.

For example, some reports indicate that in Constanta (the second largest city in Romania, after the capital city with approx. 350,000 inhabitants) the demand for affordable housing units is huge, some analysts say approximately 1,000-1,500 units a year. People are determined to leave their old homes built 30-40 years ago in the old grey Communist environment and move into new modern style housing. Young families are emerging and looking to set up home as new single family units, away from living with their parents or other family relatives.

King’s Construction was established in 2007 with the aims of 1) building and offering quality built affordable housing to young families, 2) creating employment for local people and 3) transforming communities by providing local people with a contemporary living environment. Three years later, King’s Construction are in the final stages of completing the second phase of a 14 Town House Unit Complex, located 8 km south of the city of Constanta, Romania. Constanta is located on the black sea coastline of Romania and the development in the city of Agigia provides apartments and townhouses for young families looking to live and work in the area.

	House Exterior during the Construction
	House Interior post Construction

The recent world economic crisis surprised just about everyone on the planet. Very few people saw it coming. It probably felt more dramatic for an emerging economy like Romania which had not been exposed to levels of internal economic forces that dictated the price and value of products at a given time and could change so dramatically. Despite the difficulties of the recession, over the last few years we have seen properties emerge from the dust in the form of two large detached houses, six townhouses and eight apartment units, providing not only local housing but also employment for local builders and tradesmen.

In November 2009 King’s Construction reported the sale of all six of the properties in the first phase of the development with families having moved in and now living on the development. Building continues with the second phase, with pre-sales already agreed on some of the eight unit.

Two other pieces of land have been purchased by King’s Construction who are looking to build more new community housing developments in the future.

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