Romania, the only EU market that sees drop in apartment prices

Romania is the only country in the European Union where the apartment prices dropped in the third quarter of 2016 compared to the previous quarter. The country saw a decrease of 0.7% in the apartment prices, compared to an average monthly growth of 1.5% in the EU, according to EU’s statistical office Eurostat. However, the apartment prices in Romania went up by 7.1% when compared to the third quarter of 2015. In the European Union, the annual increase reached 4.3%. According to data from the National Statistics Institute (INS), the number of homes built in the first nine months of 2016 amounted to almost 37,000 units, up 18.5% compared to the same period in 2015. In the third quarter, about 12,851 homes were built, up 1,211 compared to the same quarter in 2015. editor@romania-insider.com