House prices in Romania to increase by 5-7% this year

The high demand for apartments, supported by the new funds allocated for the First House program, could lead to new increases in house prices, according to Gabriel Voicu director within Coldwell Banker Affiliates of Romania. House prices could thus go up by 5-7% this year, according to Voicu, reports local Profit.ro. Prices could also increase due to higher development costs, from land prices to those of building materials and labor. The prices of new apartments in Bucharest have slightly increased since the beginning of this year also because several projects have been completed. This year has been more favorable to real estate projects, compared to the previous year, marked by the uncertainty of the giving-in-payment law. editor@romania-insider.com