The number of individual housing units sold in Romania during the summer months (June, July and August) dropped by 14% to 42,154 this year, Economica.net reported. However, the annual decline in the year-to-date period is rather small.

The rising interest rates, higher inflation and uncertainties related to future economic conditions are broadly expected to further curb the Romanians’ appetite for home buying.

In the first eight months of 2022, 114,157 housing units were traded, some 450 more compared to the same period of 2021.

The columns of sales in Bucharest have followed the same pattern. Thus, between June and August 2022, approximately 12,900 individual housing units were traded, compared to more than 13,700 in the same period last year.

Fewer home sales were recorded in counties hosting first-tier cities, with the most notable decrease in Cluj county, of minus 25%. Fewer homes were also traded in Timiș county, with a minus of 23%.

The counties of Iași (-10%), Brașov (-15%) and Constanța (-16%) were also down.

andrei@romania-insider.com

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