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Demand in the real estate market increased by 15% in August compared to January, after a sharp fall of almost 70% at the end of March, in the context of the epidemic, market uncertainty and restrictions imposed by the authorities.
After a promising start to the year, with accelerated growth in the first quarter of 11% in terms of demand dynamics compared to the same period last year, market uncertainty and restrictions imposed by the authorities led to the second quarter marked by the decrease in the number of commercial applications up to 70% ”, is shown in a press release from Blitz Romania.
According to the cited source, as of the end of May, the real estate market resumed its positive trend, returning the level of demand to one similar to that of March.
“Since June we have seen a return to demand dynamics to a level slightly above February, and in July, with the entire vacation period specific to the summer season, the growth trend continued, reaching the level of activity before the pandemic. “Says Cătălin Priscorniță, CEO of Blitz Romania.
Apartment prices have been on the rise since July. At the end of August, Cluj-Napoca remains in the first place, with an average price above the national average (1,811 euros / m2), followed by Bucharest (1,357 euros / m2), Timisoara (1,293 euros / m2), Constanța (1,234 euros / m2) and Brașov (1,197 euros / m2).
“The market is characterized by a return to a normal rhythm of activity after months of decline and then stagnation, and this year is atypical. Our experience in the field shows us that there is still robust growth in the main economic centers of the country, in correlation with the general economic trends, and we expect a good end of the year ”, estimates Priscorniță.
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