Debt discharge law stimulates housing prices, says Imobiliare.ro

Newsroom 12/05/2016 | 15:15

The debt discharge law has stimulated housing demands – and therefore prices -, according to an Imobiliare.ro study.

After registering a 6.5 percent hike in prices for apartments on sale nationally during the first quarter of the year, April brought a further 0.3 percent increase, taking prices to EUR 1,016 per sqm.

Compared to the same period in 2015 (when housing units cost on average EUR 930 per sqmr), the current value is 9.2 percent higher. In April, another large city in Romania reached the threshold of EUR 1,000 per sqm, after Cluj-Napoca and Bucharest.

In the capital city, prices rose 1.5 percent last month (from EUR 1,104 to EUR 1,121 per sqm) and by 6.4 percent in the last year (from EUR 1,054). Old apartment prices increased by 1.6 percent within 30 days (from EUR 1,051 to EUR 1,068 per sqm), while new housing units increased in prices by 1.3 percent (from EUR 1,144 to EUR 1,159 per sqm), according Imobiliare.ro.

Across the large cities of Romania similar annual advances were posted, with Brasov and Constanta seeing increases in prices per sqm of over 6.5 percent, Iasi prices advancing by 9.1 percent, while Cluj-Napoca and Timisoara both registered a 13.8 percent rise.