According to The Concept’s quarterly market study “Analysis of the residential market in Romania in Quarter 4 2022”, the average house price in relative figures, adjusted for inflation, decreased by 6.5 percent. Although in absolute numbers, the average price increased compared to the same quarter of the previous year by 8.8 percent, the inflation of 16.4 percent eroded the average market value of the sqm of the buildings, so that, in relative terms, we can say that the houses are cheaper.
“In the current real estate cycle, we are in a moment of tumult that can give, in the short term and in certain market categories, a temporary correction. This is already happening if we consider inflation-adjusted prices, but more important is what is likely to happen at the end of this correction period. The most likely scenario is that of an explosive growth of the market, similar perhaps only to the growth of the period 2004-2008 which drove prices and the number of transactions to record levels,” said Daniel Tudor, CEO of The Concept.
The most affordable housing in Romania among the big cities is still in Bucharest.
