Demand for residential properties in Romania fell by 5 pct in the last year

In the last 12 months, the demand for residential property recorded for the first time in recent years, a decline about  5 percent cumulative decrease in the big regional centers of the country, according to imobiliare.ro, quoted by Business-Review.eu.

Of the six cities analyzed only three have a decrease in appetite for purchases, one of them notable of -15 percent, taking place in Constanta. The demand for residential properties is lower than last year in Bucharest (-8 percent) and Braşov (-4 percent).

These decreases can be attributed to the increased influence of what happens in the lending field: if last year many Romanians rushed to access a Prima Casa loan, in the first half of the year due to limited funds, and the sustained growth the ROBOR index, some of the potential buyers prefered to postpone the purchase decision.

In the other three major cities analyzed, interest in housing has increased: the only one who recorded one notable advance – of 21 percent – was Cluj-Napoca, while, in Timisoara and Iasi, the increases were negligible, accounting for 2 percent and 1 percent, respectively.

Despite the increased appetite for acquisitions, Cluj-Napoca is only ranked fourth among the big cities in terms of search volume, reaching 13,700. For comparison, this indicator reaches 77,300 in Bucharest. Purchasing interest has grown by 34 percent in large cities (compared with a 76 percent in the first three months of this year).

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