New and old properties in Romania record increases in price indices in Q1

New and old properties in Romania record increases in price indices in Q1, according to the Eurobank Property Services Residential Indices. Dunare & Black Sea Index recorded a 2.5 percent quarterly increase, while the indices for Muntenia, Moldova and South registered quarterly increases of 1.1 percent, 1.6 percent and 1 percent respectively. On a year-on-year basis, all divisions showed positive price changes.

The changes of the indices of the eleven large cities of Romania indicate variability, due to correlations and short term corrections. On a year-on-year basis, Ploiesti registered a negative change of -1.7 percent, while Oradea and Iasi registered increases of 3.9 percent and 4.2 percent. On a quarterly basis, the Craiova Index increased by 3.1 percent, while the Cluj Index by 1.4 percent.

The upward trend of the Residential Property Index continues, as also indicated by the Index value for the fourth quarter of 2016, with a 4.2 percent advance over the same period in 2015.

The positive trend in the year-on-year evolution comes in conjunction with the average price increase of 1.4 percent per annum during the last five years. According to the Eurobank Property Services (EPS) report, the market recovery is also highlighted by the course of the Bucharest Index which experienced an increase of almost 3 percent in the first quarter of the year, or more specifically that of Central Bucharest which exhibited a quarterly increase of 2.3 percent. Also, in terms of the wider area, the Bucharest & Ilfov Index recorded a quarterly price growth of 2.6 percent in the same period.

Eurobank Property Services (EPS) analyzes quarterly the evolution of the Residential Property Index for the Romanian Market, based on 12 years of historical data, starting from 2005.