Romania's real estate market up by 10% in 2015

The local real estate market rose by 10% in 2015 compared to the previous year both in terms of the value and the volume of transactions, according to a study by real estate consultancy firm RE/MAX Romania. The upward trend will continue this year for all market segments. The average prices in Romania’s main counties are now stable. In Bucharest and Cluj-Napoca, the average price for the residential sector amounts to EUR 1,000- 1,100 per sqm. In Brasov, the average price reaches EUR 850 per sqm, whereas in Sibiu, for example, the average price is about EUR 700 per sqm. The real estate market had a real comeback in 2015, said RE/MAX Romania president Razvan Cuc. He expects a higher activity in the market this year as well as a 5% increase in prices both for new and old residential units. editor@romania-insider.com