prices

Land prices in Bucharest’s northern area climbed up to EUR6,000 per square meter over shortage of lands used for construction works, as indicates a study conducted by realty consulting company Colliers.

The growth rate in prices for new dwellings in Romania’s capital city of Bucharest will slow down in 2008 to 15-20% following increased demand, given that house prices hiked in 2007 by an average 20%, according to data provided by realty consulting company Colliers International.

Romania’s largest vertically integrated oil company Petrom (SNP.RO) will hike Tuesday gas and diesel oil prices by up to 0.10 lei (EUR1-RON3.4833) per liter, due to an increase in international quotations, the company said in a statement Monday.

Economy and Finance Minister Varujan Vosganian said on Thursday that gas prices may be hiked as of January 1, but says power prices will be maintained at the same level, following the connection to the national grid of the second nuclear reactor at Cernavoda power station.

The clients of mobile network operators will have to pay in 2010 an average price of 0.25 lei/minute (EUR1-RON3.4477), down 30.6% from the average price set by companies in 2006, according to the data presented by Romania’s national IT&C regulator ANRCTI in the strategy regulating the Romanian telecom sector for 2007-2010.

Real estate prices in Romania will continue to rise as foreign capital inflows have not saturated the market, Juha Kahkonen, senior consultant with the International Monetary Fund said Wednesday in Warsaw.

Romanian subway network operator Metrorex might hike the prices, starting with January 2008, while the prices for railway transport will remain unchanged, the Ministry of Transport announced Thursday.