Property in Romania

Housing prices still to increase

As many companies have announced several large Romanian real estate projects, representatives of the companies in this sector say housing prices will continue to increase.
From December 2005 until now the prices for construction material have increased 20 percent, which leads automatically to the increase of housing prices. The prices for old apartments are less than those of new apartments because the former are calculated per square meter and the latter per constructed surface.
As, after the location of the dwelling, the price is one of the factors that matters most in the decision to purchase, developers are trying to offer products with acceptable prices and high quality.
Romania will reach the level reported in Prague in the 2008-2009 period, when all the planned projects are finished. Referring to the effects of Romania’s EU accession, the experience of the countries that have already joined the EU shows that the interest for the real estate sector has grown after accession as well.

Date posted: January 3, 2007