House prices in Romania rose 6.1 pct last year, the fastest pace since 2008

Sorin Melenciuc 10/07/2018 | 11:27

Romania has registered an average house prices’ growth rate of 6.1 percent last year compared with 2016, the fastest pace since 2008, according to Eurostat data.

The house market in Romania has recovered since 2015, after a punishing six-year period (2009-2014) of price slump following the financial crisis.

In 2017, house prices in Romania have increased for the third year in a row, but the pace has accelerated from 6 percent in 2016 and 2.9 percent in 2015.

In the EU, house prices, including purchases of both new-build and existing houses and flats, have fluctuated significantly since 2006, but have slowly recovered during the last few years. Last year, house prices rose 4.4 percent in the EU.

Eurostat data show that the highest house prices growth rates among the 28 EU member states were recorded in 2017 in the Czech Republic (11.7 percent), followed by Ireland (10.9 percent), Portugal (9.2 percent), Lithuania (8.9 percent), and Latvia (8.8 percent).

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