The volume of mortgage loans in RON granted by banks doubled in the last three months of 2023, compared to the same period in 2022, and exceeded RON 10 billion, according to the latest data published by the National Bank of Romania, quoted in a press release by Imobiliare.ro Finance."The lending market is coming back strongly after an extremely difficult period marked by uncertainty and high financing costs. More and more Romanians are now looking to take out a loan and are increasingly interested in working with a credit broker to obtain the most advantageous financing conditions," says the source.At the same time, 187,500 properties were transacted nationwide, up 3% from 2022, data from the National Agency of Cadastre and Real Estate Publicity, cited in the same release, show.Of the total, 49,700 were apartments, a segment where an advance of about 9% can be observed compared to the end of the previous year.For the whole of last year, there was a 31% increase in the volume of mortgage loans in RON, up to RON 31 billion. In the case of consumer loans, the advance was 13% in this period, up to about RON 28.7 billion.Specialists of the credit brokerage division of the real estate company estimate reductions in variable interest rates starting with the middle of this year, provided that the forecast decline in inflation will further reduce the existing pressure on interest rates.On the other hand, they forecast an increase in the price of housing in 2024, amid the increase in the reduced VAT rate from 5% to 9% for housing up to EUR 120,000, the alarming decline in the supply of available properties on the residential market, but also a potential increase in demand amid the reduction in interest rates.
President Nicușor Dan has nominated Senate president Ilie Bolojan, a leader of the National Liberal Party (PNL) and former interim president, for the prime minister seat. Dan said Bolojan is “the best person to carry out the needed adjustments in the state administration.” He pointed to Bolojan’s track record with reducing spending, and said he has […]
Balkanik Festival – Home of World Music, set to take place at Uranus Garden between September 5 and September 7, lines up this year artists who "celebrate that form of joy that does not ignore reality, but faces it with beauty, energy, and solidarity," the organizers said. The artists performing in September in Bucharest will […]
The mayor of Timișoara, Dominic Fritz, announced on Friday, June 20, that two new bridges over the Bega River will be built in the city. The bridges will be financed with EU-backed funds worth over RON 130 million. The bridges in question are the Solventul Bridge, which will connect Gării Street to Dâmbovița Boulevard and […]
A Sarmatian necropolis nearly 2,000 years old was discovered after archaeological excavations were carried out at the Mehala II site in the municipality of Timișoara, in western Romania. Researchers discovered 15 inhumation graves, most arranged in rectangular pits with rounded corners, although some no longer retain their original outline, having been disturbed by the passage […]
The George Enescu Philharmonic Orchestra will deliver on June 26 a concert marking Romania Day at the Osaka World Expo. Additionally, the Bucharest-based orchestra will present a series of other concerts and recitals, both within the Romanian Pavilion and outside, at Toyonara Hall in Osaka. The George Enescu Philharmonic Orchestra's concerts will be conducted by […]
Sphera Franchise Group, the largest food service group in Romania, has opened its first Cioccolatitaliani store in the seaside resort of Riccione, in Italy’s Rimini tourist area. This marks the official launch of Sphera Group’s development plan for the premium Italian brand of coffee, gelato, and pastry. Under the plan, it will open four locations […]
