RSS
Real estate: Study: Housing prices in Romania, fourth largest drop among 45 world countries
Housing prices in Romania dropped by 4% in the first quarter, compared to 9.25% the previous year, according to a study made based on average prices, adjusted by inflation rates, recording the fourth largest drop of 45 countries analysed.
Greece, Spain and Russia recorded the largest price drops in the first quarter, by 7.08% (compared to -11.16% in the same period of 2013), 5.41% (against -12.48%) and 5.15% (-0.32%) according to a study made by globalpropertyguide.com.
Other European markets where housing prices dropped in the analyzed period are Kiev, Ukraine (3.54%), Zagreb, Croatia (2.88%), Warsaw, Poland (2.53%), France (2.22%), Norway (1.97%), Slovakia (1.44%) and Finland (1.29%).
France, Norway and Finland had a performance under the one of 2013, while countries which try to recover differences - Romania, Croatia, Poland and Slovakia had better results than in 2013.
Ireland recorded the most spectacular change, with a price increase of 7.49% in the first quarter, compared to a drop of 3.49% in the same period of 2013. In Great Britain prices went up by 7.35% in contrast with the 2.52% decline in the first three months of 2013.
Important increases took place in Turkey (7.16%), Vienna , Austria (6.39%) and Sweden (4.86%).
On the other hand, prices recorded slight increases in Germany (3.72%), the Czech Republic (2.82%), Switzerland (2.76%), Bulgaria (2.32%), Portugal (1.6%) and Holland (0.02%).
30 out of the 45 countries included in the study had price increases.