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Over 90% Of Bucharest Buyers Would Pay Below EUR100,000 For Housing – Survey

Over 90% of Bucharest citizens intend to buy apartments for less than EUR100,000, while only 2% can afford to buy dwellings priced at over EUR150,000, according to real estate portal Imopedia.
Over 90% Of Bucharest Buyers Would Pay Below EUR100,000 For Housing - Survey
24 nov. 2009, 11:57, English

The survey is based on data collected online, as well as from the visitors of the real estate fairs and exhibitions this year.

The percentage of persons planning to buy apartments that cost less than EUR100,000 rose compared with 85% in spring, as the government housing guarantee program triggered a significant demand increase on the segment of dwellings framing into the EUR60,000 limit set up by the state.

Most of the buyers, namely 80%, preferred apartment blocks, compared with 85% in spring.

According to Imopedia, the land segment remains the most affected on the real estate market, as transactions are almost inexistent.

„After it was the most speculated market for years, with prices that tripled every year, the land market is now the most affected. Only 1% of the real estate buyers target lands,” Imopedia general manager Razvan Muntean said.

According to the portal, over 50% of the buyers chose to pay in cash, while 35% preferred the mortgage guarantee program.