Romanians pay loan installments with annual effective interest rates almost double compared to many European countries. According to Eurostat data, the average annual effective interest rate on mortgage loans in Romania is 6.5%, well above the euro area average of 3.8%. Significant differences are also present in consumer loans. In Romania, the interest rate reaches 10.2%, compared to the European average ranging between 5% and 6.5%. While countries like Germany and France have more favorable interest rates, around 5.5% and 6%, Hungary and Poland have similar interest rates to Romania, at 9.8% and 9.5% respectively. "Accurate information and cost optimization are essential when Romanians make credit plans. Although interest rates are higher, there are solutions to reduce these costs through careful comparisons and brokerage services. Refinancing or direct negotiations with the bank can make a considerable difference in the long term," says Valentin Anghel, CEO of AVBS Credit Broker.
Homedit, a Romanian brand of premium furniture and home décor, announces the official opening of its first showroom, located in an interwar house in central Bucharest ("The Bamboo House”, located at No.3, Dumbrava Roșie St.). With a total investment of approximately EUR 12 million, the business was founded in 2016 as an online store by […]
The 32nd edition of the Sibiu International Theatre Festival (FITS) begins on Friday, June 20, bringing over 5,000 artists from 82 countries to the city. The events will take place over ten days and will transform the city into an "open-air stage, with large-scale productions, impressive installations, parades, fire shows, live music, aerial dances, and […]
The well-known science and nature channel Discovery is currently marking four decades since its global launch in 1985 with a special series titled "Discovery Changed My Life,” bringing testimonies from personalities whose vision was shaped by Discovery. Among those featured is also Romanian mountaineer and conservationist Alex Găvan. The series premieres on Sunday, June 22, […]
Meta Estate Trust (MET), a holding company operating in the real estate sector, has invested approximately EUR 2 million in a new retail park currently under development in Ciolpani, a commune located on the Bucharest–Ploiești corridor (DN1), it said. The project is scheduled to be completed and handed over to tenants this year, with an […]
Romania benefits from a series of favorable factors that facilitate the growth and expansion of data center capacity and could emerge as a developing market, according to an analysis conducted by the real estate consultancy company Cushman & Wakefield Echinox. A diversified energy mix, with over 50% of energy production coming from renewable sources, along […]
The German company DEHN, a manufacturer of electrical engineering solutions for critical infrastructure, including lightning and surge protection, as well as safety equipment, will open a production site in Piteşti, southern Romania. The facility, the company's first in the country, will expand its capacities to serve customers in Europe. It fits seamlessly into the company's […]
