Bucharest’s General Council approved yesterday a draft project for setting up a company that will build homes.

“I guarantee that the activity of this company will be 100% transparent,” said Bucharest mayor Gabriela Firea.

She added that on the current real estate market a 60-sqm apartment costs over EUR 60,000. An apartment of the same size built by the city hall will cost half. The apartments will be sold or rented on advantageous terms.

The mayor recently announced that the City Hall planned to grant free homes to doctors, actors, film directors, and teachers.

editor@romania-insider.com