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Real estate : Eurostat: Romania is on the fifth place in a ranking of price increases in Europe
Romania, with an increase of 5.9pct in residential segment prices in H1 2016 is on the fifth place in a ranking of price increases in Europe, after Portugal (14.3pct ), Germany (11.24pct), Turkey (10.68pct) and Spain (6.64pct), according to a survey conducted in 15 European countries by a real estate consulting company, and issued on Tuesday.
At the end of the classification there are countries such as Slovakia or Greece, where prices have dropped even by up to 3pct, or Switzerland, where the increase was insignificant, less than 1pct.
Although Romania is among the leaders in terms of price increases in H1, if the cost per square meter is taken into account, it stands at some 900 euros. In Switzerland, France and Germany, prices per square meter stand at between 2,860 and 5,785 euros per sqm.
In contrast, according to the RE/MAX survey, the lowest prices per square meter in H1 were in Turkey (534 euros), in Czech Republic (832 euros), Slovakia (879 euros) and in Romania (900 euros).
The RE/MAX survey emphasized that the real estate market in Europe is highly diversified, with major differences from country to country. However, the only common denominator across Europe is the historically low level of interest rates for mortgage loans, which resulted in a growing demand for residential sector and also in higher prices.
The RE/MAX Europe Housing Report was conducted in 15 countries - Austria, Czech Republic, Switzerland, Finland, France, Germany, Greece, Italy, Netherlands, Portugal, Romania, Slovakia, Slovenia, Spain and Turkey - from January to June 2016.