The prices of new houses in Romania went down by an average 1.6% in 2015 compared to 2014, the third steepest decline in the European Union, according to Eurostat data.

The biggest declines were registered in Latvia, where new houses got 7.7% cheaper in 2015, and Croatia, where prices fell by 6.2%. Two other markets saw declines, namely Italy (-1.5%), and Cyprus (-1.4%).

In the other EU member states, the new house prices went up in 2015. The highest increases were registered in Ireland (+25.5%), Denmark (+11.7%), and Estonia (+11.1%).

The existing house prices went up by 3.4% in Romania, in 2015, placing the country at the middle of the EU ranking. Prices for existing houses went down by 3.1% in Italy and increased by 14.8% in Sweden, in the same year.

editor@romania-insider.com