The number of new housing units on sale in Romania at the end of last year was the highest since 2008 when the market collapsed amid the international credit crunch and recession. Nonetheless, the supply remains some 20% below the peak level in 2008, and the gap will close only partially by the end of 2019.
The offer will grow by another 10% by the end of the year, according to the organizers of the Imobiliarium real estate exhibition hosted by Bucharest during May 17-19, quoted by Adevarul daily.
In 2008, the supply of new homes reached about 61,000 units at a national level, while at the end of last year the same segment reached nearly 48,000 units.
The strong demand for housing in first-tier cities like Bucharest, rising disposable income and banks’ appetite to extend loans are among the main drivers that pushed up supply. Nonetheless, buyers are more cautious now compared to 2008, the quoted analysts added.
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