Residential market in Romania sees record volumes in October

The number of real estate deals in Romania soared by 43% year-on-year to over 83,000 deals, a record for the past three years, Profit.ro reported.

The performance comes after the trading plunged during the lockdown and in the month immediately after, to recover modestly during the summer - yet nothing that could have heralded the sharp rise in October.

Overall, for the first ten months of the year, the number of deals increased by 5.4% compared to the same period last year.

The rising number of residential projects in Bucharest and first-tier cities have visibly contributed to the record sales in october.

The most real estate sales in October were registered in Bucharest (13,623) and Ilfov ( 6,281).

The 20,000 deals in Bucharest metropolitan area thus accounts for one quarter of the country-wide number of deals.

Significant number of deals were reported in Timiș: 4,805. Compared to September, 53% more transactions were registered in Bucharest, and 87% more in Ilfov.

The counties with the least real estate deals in October were Olt (292), Covasna (391) and Caraş Severin (430).

It should be noted that the volumes include all types of real estate transactions, but the majority share is home sales.

(Photo: Pixabay)