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Real estate market remains stuck to 2009 level

Real estate market remains stuck to 2009 level

Autor: Claudia Medrega

16.03.2011, 23:48 14

The statistics of notaries public on real estate transactionsconcluded last year did not reveal major changes to the situationrecorded in 2009, with the market experiencing a relativestagnation.

According to data of the National Union of the Romanian NotariesPublic, real estate transactions concluded last year reached352,272, slightly down against the 2009 level, when they totalled352,541.

December saw 31,012 real estate transactions concluded, down from31,413 in December 2009.

The residential segment remained the most affected one on theRomanian market, with relevant transactions concluded almostexclusively through the "First Home" scheme.

Consultants say, however, that on this segment funding has startedto thaw, so that new projects might begin construction thisyear.

The number of real estate transactions exceeded levels in similarmonths of 2009 only in three months of 2010, March, June andAugust.

Data from the National Agency For Cadastre and Land Registrationindicate a slight rise in the number of real estate transactionsconcluded in Romania in 2010, by 2.5% against 2009, from 562,637 to577,023 deals.

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