Apartment prices in Romania rose by 4% in the first quarter of the year compared to the same period in 2016, according to a survey by real estate classifieds platform Imobiliare.ro.

This is the second highest increase recorded over the past three years. It was only surpassed by a 4.2% growth that took place in the last quarter of 2014.

Based on price evolution, the local residential market has been on an upward trend for 11 quarters since the second half of 2014.

The average quarterly growth margin has amounted to 2.4% in this period. However, the current growth pace is significantly below the one recorded during the boom period of the local market. By comparison, apartment prices increased by over 5% per quarter between 2006 and 2008, with growth rates reaching 16% in the first quarter of 2008, or 13% in the third quarter of 2006.

editor@romania-insider.com