House prices in Romania, 23% below 2007 peak level
Romania posted the second-sharpest decrease in house prices in the EU, in the first quarter (Q1) of this year, compared to Q1 2007: 23.6%, after Greece (-35.6%) and before Ireland (-17.5 %), according to Eurostat.
Romania Insider · Journalist
· Updated · 1 min read
Romania posted the second-sharpest decrease in house prices in the EU, in the first quarter (Q1) of this year, compared to Q1 2007: 23.6%, after Greece (-35.6%) and before Ireland (-17.5 %), according to Eurostat.
Meanwhile, rents increased by 55% in Romania in the same period, more than twice the average increase in the EU.
A significant consequence is the higher yield derived by investors who rent their properties in 2020, compared to 2007.
Between 2007 and the first quarter of 2020, rents increased by 20.8% and house prices by 20.5% on average in the European Union.
When comparing the first quarter of 2020 with 2007, house prices increased in 21 EU Member States and decreased in 6, with the highest rises in Luxembourg (+91.4%), Austria (+91.3%) and Sweden (+82.8%) and the most significant decreases in Greece (-35.6%), Romania (-23.6%) and Ireland (-17.5%).
(Photo: Pixabay)
