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Romanian Realty Mkt Nearing Crisis – Rompetrol CEO

The Romanian real estate market is going down and heading toward a crisis, over uncompetitive prices, said Wednesday Dinu Patriciu, CEO of Romania’s second largest oil group Rompetrol.
19 mart. 2008, 13:29, English

"The Romanian real estate market goes down every day but we refuse to see that. People believe in what they want to believe,” Patriciu said.

He added realty deals are on hold in Romania.

"No deals are being performed and this is the beginning of a crisis, following step by step what happed in Spain,” Patriciu said.