Romania Housing Prices Seen Further Down In 2010 – Valuator

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.