Residential prices to increase 10% year-on-year in Romania

Prices for houses and apartments in Romanian urban areas will increase by 8-10% by the end of the year compared to the tariffs of 2016. A similar evolution is due to take place on the rental market, according to a study by the real estate consultancy RE/MAX. The rental price per sqm will increase by 7-10% compared to the average cost in 2016. Last year, the average selling price for an apartment in urban cities amounted to EUR 1,150 per sqm. The government programs and the easy lending conditions mainly attract a large number of clients who carry out their first real estate transaction. The higher demand on the market led to higher prices. “For the next period we anticipate a faster pace of growth, in line with European trends,” said Razvan Cuc, RE/MAX Romania president. editor@romania-insider.com