Romania ranks first in the EU for the increase in house prices in the first quarter of the year, compared to the previous quarter. The prices in the local real estate sector went up by 4.1%, according to EU’s statistical office Eurostat.

Romania was followed by Sweden, with a 3.9% growth, and by Hungary, with a 3.7% increase.

House prices in Romania have started to go up in the last quarter of 2014, after declines in the first six months of 2014. However, Ion Radu Zilisteanu, professor of economics and real estate expert, told the local news platform Hotnews, that the growth could only reflect a seasonal increase and that the Eurostat analysis has no special meaning for Romania. Spring and autumn are usually good seasons for the real estate sector.

editor@romania-insider.com