The national index y-o-y positive variation comes in conjunction with an average price increase of 1.5% per annum, during the last five years, as well as with the positive trends recorded at regional level, thus indicating a recovery of the market. Therefore, the course of the Bucharest Index experienced an increase of almost 0.7% in 2Q17, while the Central Bucharest Index exhibited a quarterly increase of 1%. Although, in the wider area, the Bucharest & Ilfov Index showed quarterly price stagnation, with a minor change of -0.1% the y-o-y figures for this region were also positive.
With regards to the other seven divisions of Romania, most of them continued the upward quarterly trend. The highest increases were recorded in Moldavia with 3.6%, North with 3.2%, Muntenia with 2.8% and West with 2.5%, while the indices for Central, South, and Danube & Sea regions stood at 1.3%, 0.3% and -0.9%, respectively.
The evolution of the biggest eleven cities in Romania indicates an overall stable q-o-q performance, due to both correlations and short term corrections. Furthermore, the y-o-y analysis for Bucharest, Iasi, Cluj, Oradea and Galati exhibit an upward trend of 3% on average.
Also, the new properties’ prices reached a y-o-y growth of 3.4%, at national level, while those in Bucharest continue their positive evolution.
Consequently, the new issue of the EPS residential price index suggests an overall positive trend of the market, especially in the big cities, which is to be confirmed by the evolution of the following quarters.
Eurobank Property Services(EPS) analyzes quarterly the evolution of the Residential Property Index for the Romanian Market, based on historical data covering twelve (12) years, starting from 2005.