Romanians don’t really want to hear about loans anymore, in this period, and they go more towards rents than buying apartments. Last month, almost 60,000 homes were sold across the country, a figure slightly higher than last month, but lower than last year.
“Rents are on the rise when purchases are postponed. It is normal that during this period, rents increase and the growth trend is maintained. The acquisitions market is in a certain stagnation, a postponement. The state of uncertainty is normal to put people in a position where they say: I’ll wait a little longer for things to calm down so I can buy”stated for Observator TV Alex Printz, real estate expert.
What do we choose: old or new blocks?
Alex Printz also stated that prices have been segmented, and this slight blockage in the lending side has segmented the market into blocks built before ’77, blocks after ’80, even new blocks, throughout the country.
The ones before ’77 have registered decreases and will probably register decreases, and the new ones have no tendency to decrease.
“The old blocks have a great asset, they have the infrastructure already developed next to them, the locations, for the most part, are premium, they have well-developed logistics next to them. The new blocks are now developing their logistics. We are not only talking about parks, but also about access to means of transport. The old blocks are still in demand, but at the moment, the world is reluctant. I can assure people that the old blocks are built very rigorously”explained the real estate expert.
“The market will go through a few more months of stagnation, and when the news becomes slightly more positive, i.e. inflation will start to decrease, crediting will relax a little, IRCC and ROBOR will stabilize, it will certainly enter a transactional trend”, he added.
How long should we wait until we buy an apartment?
Alex Printz also said how long we should wait before purchasing an apartment, during this period.
“It depends on the need. If your need is urgent to move, get it now. The new blocks will not get cheaper, I can assure you, and for the old blocks, if there is another 0.8% or 1% reduction, frankly, it is irrelevant”, concluded the real estate expert, for the quoted source.
