The market of real estate transactions remained frozen in thefirst half of this year in the context where "very few are makingacquisitions at present," says Filip Stoica, president of theRomanian National Appraisers' Association (ANEVAR), who says thetrend will change when clear signs of emergence from recessionappear.
"The market has been frozen for nearly two years, in the absence ofsignificant injections in the real estate market. The market willchange when clear signs of economic recovery emerge. It is thenthat people's confidence will return and a change in behaviour willoccur. Buyers will want to buy while the prices are still low,"believes Stoica.
In the two years of decline of real estate prices there were priceincreases after Governmental programme Prima casă (First Home) waslaunched and right after the VAT was cut to 5% for homes sold bycompanies for less than 380,000 RON, but the measures were not ableto significantly drive up a market dependent on the stability andconfidence of the apartments' end users.
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