The fat of the land

The Romanian land market is now stagnating because of high prices and the financial crisis. Analysts believe that in the second part of the year the market will start to recover, but partnerships for land will take the place of simple sell and buy transactions Matei Roman Since the second half of 2007, the pace of land transactions in Romania has slowed down due to the instability gripping the international financial markets, with pressure  being added by astronomical prices, forcing developers to sit back and wait for better times. According to Colliers International, the total land area sold in 2007 in Bucharest, in terms of plots of at least 5,000 sqm, was app. 1.5 mln sqm, with a total value exceeding EUR 850 mln. Adding force to the slowdown in the buying of land, more than 70 pct of the transactions were closed before the summer. After this, the negative news coming from the international markets began to affect the volumes and the will of those who were interested in acquirin