Prima pagină » English » Romania Housing Prices Seen Further Down In 2010 – Valuator

Romania Housing Prices Seen Further Down In 2010 – Valuator

The price of Romanian housing will continue to fall this year, by around 10%-15% for newly-built properties and by 15%-20% for old homes, as clients’ incomes are estimated to drop further, said Tuesday Adrian Crivii, the general manager of evaluation and advisory company Darian.
Romania Housing Prices Seen Further Down In 2010 - Valuator
16 feb. 2010, 14:09, English

According to the company’s analysts, housing prices dropped by around 30%-40% in 2009, with the highest falls recorded in capital Bucharest and the central Romanian city of Cluj-Napoca.

The dwellings in the western city of Timisoara saw the lowest price fall in 2009, of up to 23% on the year.

Crivii said he thinks only the government’s housing program might stop the price fall, as any governmental intervention on a market manages to influence both demand and supply.

As regards the newly-built homes, Crivii said the main problem is the value of the lands that still have high prices.

„The price per square meter of a home must be correlated with the average income,” he added.

Cluj-based Darian activates through 20 offices located in the most important cities countrywide and employs around 60 authorized evaluators.