RE/MAX Romania grows business by 30% in 2017

Real estate agency RE/MAX Romania said on Tuesday that its business grew by 30% on the year in 2017, reaching 2 million euro ($2.5 million), according to SeeNews.com.

In 2017, RE/MAX brokered over 1,500 real estate transactions, up 50% compared to 2016, it said in a press release.

Some 57% of the transactions were sales and 43% were rentals. The largest transaction brokered on the residential segment was worth 1.5 million euro, for an apartment in Bucharest.

“RE/MAX’s business continued to progress in 2017, and we believe that this trend will continue in the coming period,” RE/MAX Romania president Razvan Cuc said.

RE/MAX offices in Cluj-Napoca brokered most of the real estate transactions in 2017, followed by the offices in Bucharest and Arad.

By the type of property traded by the company, property deals in the residential segment had a share of 74%, while the rest of the transactions were concluded for plots of land – 10%, commercial – 11% and industrial – 5%.

The company expects a moderate 8% growth of its business in the residential segment in 2018, with an emphasis on the main markets, namely the cities that are economic hubs in Romania.

According to the RE\MAX forecast, the most expensive market with the highest growth rate will continue to be represented by Cluj Napoca, while Bucharest will have the most interesting development in both residential and commercial segments.

RE/MAX Romania ended 2017 with 22 offices, over 200 agents and 7 franchise contracts signed for offices in the process of opening. As far as 2018, the company’s representatives are counting on a positive business path.

“In 2018, we are expecting a 60% increase in the number of offices and agents in line with our expansion strategy, and the value of commissions in transactions will be 40% higher. We remain optimistic about the development of our business this year and we intend to continue the development of RE/MAX franchises in Romania,” Razvan Cuc said

In December, RE/MAX opened a new office in Romania’s western city of Oradea following an investment of 16,500 euro.

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