Real estate prices on the rise

Romania’s real estate prices are on the rise with a further increase in short term, analyst said. Romanians seem increasingly interested in buying a house as banks relaxed mortgage regulations while an installment got cheaper than hiring,  Dragoş Vîlceanu, head of Real Estate Brokers’ Association, told Radio Romania. „The residential business is getting stronger while demand is exceeding the offer. People will be more likely to buy an estate than keeping their money in bank accounts”, Mr. Vîlceanu added. Growing demand is encouraged by the „First House” programme as its influence is higher on prices between 40-60,000 euros. Romania’s real estate prices went up more than 4 percent in the first quarter of 2015 as compared to a similar period last year.