More Romanians interested in real estate transactions

The Romanians’ appetite for real estate transactions has started to increase. A recent study by local real estate website Imobiliare.ro reveals that the potential of the local residential market reflected in the demand for housing intensified in 2015 compared to the previous year. Slightly over 40% of the respondents said they had an active real estate need in 2015, up by 4.2 percentage points compared to the level registered in 2014, of 35.9%. The growth was almost exclusively generated by the increased interest in buying a real estate property while the rental segment remained relatively stable, reports local Mediafax. More than half of those who have an active real estate need want to buy a property, 23.2% wish to sell, 11% want to offer a property for rent, and 10.6% are interested in renting. About 43.5% of the respondents expect to solve their real estate problem in a period of over six months. On the other hand, 19.7% have an urgent real estate need and would like to solve it in less than a month. More than 38% of the potential buyers would purchase their first homes while 40.7% already have a house but want a new one. The remaining 21% would like to buy a property to rent. When it comes to the payment methods, 40% of the respondents in this category said they would pay cash for the property in question, and 60% intend to take a bank loan. The price remained the main criteria the Romanians take into account when buying a home (76.9% of the potential buyers look at the price). The area comes next with a share of 53.7%, followed by the building’s comfort (36.6%), its proximity to utilities (33.7%), and the building’s age (21.4%). The online environment remains the primary source of information, followed by friends’ recommendations. The study was conducted between November 12 and December 10, 2015. Irina Popescu, irina.popescu@romania-insider.com