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Romanian property prices up in Q2

Date : (News Section: Romania)

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Romanian property prices up in Q2
There are signs the Romanian real estate industry is recovering, with property prices in the country climbing in the second quarter of this year.

Business Review cited figures from EFG Eurobank Property Services SA, which showed the value of homes in the nation rose by two per cent in the three months from April to June.

ln the first six months of 2012, some of the most substantial increases have been recorded in Bucharest, with property prices in the centre of the city up by five per cent, while homes on the outskirts jumped in value by 4.8 per cent.

The Eurobank report said the recovery in housing values noted in the first half of the year "suggests a turning point for the sliding of prices that took place in recent years and raises expectations for stability".

Despite optimism over the country's residential real estate sector, the same does not appear to be true of its commercial property market.

Research published by CBRE earlier this month revealed commercial real estate investment in Romania dropped to €50 million (£39.25 million) in the first half of this year, down from €250 million in the same period in 2011.
 
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Article by +James Roberts on behalf of Propertyshowrooms.com

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