Romania is one of the European states with the lowest housing prices

Romania ranks second among European countries for the lowest housing prices, after Bosnia and Herzegovina. Deloitte Property Index 2022, conducted in 68 cities in 23 countries, with an average price of €1,266/sqm, calculated based on data from major cities and towns in the country. Compared to the previous year, the average price is 7.3% higher. The list of countries with the lowest average prices on the continent also includes Serbia (€1,520/sqm) and Portugal (€1,537/sqm)*. In the city ranking, the most expensive in our country is Cluj-Napoca with an average of 1,940 EUR/sqm, followed by Bucharest (1,573 EUR/sqm) and Brasov (1,348 EUR/sqm), according to WorldAkkam.com.

In terms of housing affordability in each country, calculated as the number of average annual gross salaries required to buy a standard house (70 sqm), Romania ranks 7th out of 19 countries where this indicator was calculated. Ranked in Therefore, the Romanian needs her 6.3 years of salary for such a purchase. The survey found that the most affordable housing is in the Czech Republic, where the average annual gross wage required for housing is 13.3, and the most affordable are in Ireland (average annual income of 3.1), Norway (4.4) and Belgium (4.5).

“The real estate market is considered an economic barometer and is influenced by several factors, including the availability of land for real estate development, the supply of raw materials and other products, construction costs, and energy markets. By the purchasing power and financing conditions of the population. Accessibility and the cost of credit, which are strongly influenced by inflation, will be key factors this year. According to NBR data, the average annual interest rate for RON-denominated mortgages fell below 4% in 2021, but is expected to rise from this year amid general inflation. On the other hand, real estate investment is considered a class of assets that protects the value of the investment in time.Alexandra Smedow, Partner at Deloitte Romania and Real Estate Industry Leader, said:

The UK ranks first in the list of countries with the most expensive housing after reaching an average price of €4,905/sqm and growing by almost 21% per year. Austria is up 7.3% of her, with an average of 4,782 EUR/sqm he is second. Prices above €4,000/sqm were also recorded in France (€4,639/sqm) and Germany (€4,600/sqm). On the other side, among the countries for which national data are available, the cheapest houses are Bosnia and Herzegovina (974 €/sqm) and Romania (1,266 €/sqm).

In contrast, Hungary leads the price increase category with an annual increase of 21.5% in 2021 compared to 2020, followed closely by the United Kingdom (21%), Slovakia (19.5%) and the Czech Republic (18.4%). increase. Overall, house prices rose in 18 of the 21 countries where the index was calculated last year. At the same time, price drops were recorded in Spain (8.5%), Slovenia (3.8%) and Latvia (1.3%).

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