61% of Romanians who bought homes used their own income

28 March 2023

More than half (61 percent) of the Romanians who bought houses last year used their own funds for the purchase and 53 percent of the transactions were concluded for two-room apartments, according to a study conducted by RE/MAX.

“According to real estate specialists who participated in the RE/MAX study, 61 percent of people who purchased homes in 2022 used their own funds. The biggest change is registered among those who bought properties with a mortgage/real estate loan with a down payment of less than 15 percent, respectively 28 percent of people. Only 5 percent of the buyers used a mortgage loan with a down payment of more than 15 percent, 4 percent a co-guarantor loan (of the First Home program type), and 2 percent made installments directly to the builder,” it is stated in a statement of the company.

Most properties are bought between 1 and 6 months from the date of sale, which reflects the fact that Romanians prefer to wait, research the market and observe possible price fluctuations.

Source: Economica.net

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