Romania’s residential market 12% more active in 2020

The number of deals on Romania’s residential market rose by 12% in 2020, compared to 2019, according to data from the national cadaster registry, quoted by Profit.ro.

In December, the number of deals surged by 53% to 77,000.

It was the sixth month in a row of positive annual growth rates for the market.

The peak was in October - when the number of deals was the highest in three years.

Thus, the activity on the local residential market bounced back in 2020, after it had declined in both 2018 (by 10.2%) and 2019 (by 4.1%).

The positive developments came amid negative expectations prompted by the coronavirus crisis.

And indeed, the market plunged by 34% year-on-year in April and by 28% year-on-year in May.

It rebounded unexpectedly in June (+17% year-on-year), though.

(Photo: Pixabay)