Head of appraisers: The apartment price trend will change after the first signs of economic growth emerge

The market of real estate transactions remained frozen in the first half of this year in the context where "very few are making acquisitions at present," says Filip Stoica, president of the Romanian National Appraisers' Association (ANEVAR), who says the trend will change when clear signs of emergence from recession appear.
"The market has been frozen for nearly two years, in the absence of significant injections in the real estate market. The market will change when clear signs of economic recovery emerge. It is then that people's confidence will return and a change in behaviour will occur. 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 price increases after Governmental programme Prima casă (First Home) was launched and right after the VAT was cut to 5% for homes sold by companies for less than 380,000 RON, but the measures were not able to significantly drive up a market dependent on the stability and confidence of the apartments' end users.