ANALYSIS: Resumption at optimal parameters of buildings developments

Within the framework of the 30th edition of the National Real Estate Fair in Romania (Timon), which took place on 20-23 October 2016, there were launched residential projects totaling 6,500 dwellings with an aggregate value estimated at approximately 420 million euro. In total, at the fair there were available for sale 18,500 new homes, with a market value of over one billion euro. The resumption at optimal parameters of the residential sector has been also confirmed by the data submitted by the National Agency for Cadaster and Registration in Romania (ANCPI), according to which in the first three quarters of 2016 in Romania were recorded about 703,509 real estate transactions, with an increase of 9% above the level recorded in the same period last year. If this pace is maintained, the total number of real estate transactions will reach about 940,000, as to the estimates. In September 2016, 85,838 dwellings were traded throughout Romania, up to 1,200 units from the previous month, while compared to September 2015, the number of transactions increased by almost 7,500 units. According to ANCPI, most real estate transactions in the period under review were recorded in Bucharest (69,678 operations), followed by Ilfov County (40,158) and Timis County (32,836). Counties where there were the fewest transactions reported in the same period are Gorj (6,538), Covasna (6,415) and Bistrita-Nasaud (6,161). In September 2016, most real estate transactions were recorded in Bucharest (8,024) and Ilfov (4,691) and Cluj (4,349). However, the number of mortgages and privileges registered in the Romanian Land Registry in January-September 2016 stood at 148,267 contracts, up to almost 15,000 from the same period of 2015. The number of transactions in cadaster and Land Registry in first nine months in Romania reached approximately 4.7 million units, down by 167,155 compared to the same period in 2015.