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Real estate: Brexit revives Romanian real estate market
In June and July, searches for properties recorded by Romanian users settled in Great Britain increased by over 63% compared to the similar period of 2015, imobiliare.ro informs.
This is the biggest increase in the mentioned period of time for the interest from abroad in the local real estate market. Searches outside Romania have grown by 25%.
Germany ranks second in the top of increases (+33%), followed by France (+26%), Spain (+20%) and Italy (+16%).
Romanians living in Italy rank first for the volume of searches.
“For the volume of searches, UK ranks second in a top made in the first 6 months of the year. It maintained that position in the last 30 days at a very small difference from Italy, although the number of Romanians settled in Italy is higher.
“As for cities, London generated most searches for housing in the first half of 2016 - almost as many as Rome and Milan taken together. Germany follows with people living in Munich, Madrid from Spain and France,” says Daniel Crainic, marketing director at Imobiliare.ro.
Most searches outside, 26.4% of total, were for Bucharest and Ilfov county,followed by counties like Constanta (8.75%), Brasov (8.2%), Timis (7.6%), Cluj (7.2%) and Iasi (5.2%). Visitors from Great Britain concentrated on the same counties but in a different order: Bucharest-Ilfov (25%), Constanta (8.7%), Iasi (7.9%), Brasov (7.8%), Cluj (6.5%) and Timis (4.7%).
63% of visitors from Great Britain were interested in apartments, 30% in villas, 5.5% in commercial areas and 1.5% in lands. As price 95.4% of people looking for apartments would like prices up to 60,000 euros, while 3.6% could pay between 60,000 and 80,000 euros and only 1% would afford a house over 80,000 euros.
Searches from Italy are divided as follows 60.5% for apartments, 34% for villas, 1.5% for commercial areas and 4% for lands. In the apartment segment, 95.4% could pay up to 60,000 euros, 3.2% between 60,000 and 80,000 euros and 1.4% could exceed that level.
Users in Germany, 46% are looking for apartments, 30% for villas, 19% for commercial areas, 5% for lands. For the apartment chapter, 95% have a budget up of 60,000 euros, 3.4% would fit between 60,000 and 80,000 euros and only 1.6% could exceed 80,000 euros.
Visitors from Spain are interested 85% in apartments, 30% in villas, 7% in commercial areas and 5% in lands. 96% would pay 60,000 euros for an apartment, 3% between 60,000-80,000 euros and 1% could exceed that amount.
78% of searches from France are for apartments, 10.2% for villas, 10% for commercial areas and 1.6% for lands. 98% if visitors can afford to pay up to 60,000 euros for an apartment, while 1.4% between 60,000 and 80,000 euros and only 0.6% have budgets over 80,000 euros.