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.
Graffiti Plus (GRF+), active in Romania's communication consulting market, has signed the contract for the National Recovery and Resilience Plan (PNRR) funding for its listing on the AeRO market of the Bucharest Stock Exchange (BVB). GRF+ is also preparing to launch the private financing round it is conducting as a first step toward its debut […]
The wooden church from the village of Oncești, one of the oldest monuments in the heritage of the Maramureș Village Museum “Mihai Dăncuș” in Sighetu Marmației, has been restored. The church has now returned to the tourist circuit through the support provided by the US Ambassadors Fund for Cultural Preservation, in a project coordinated by […]
The Bucharest Stock Exchange (BVB) announced the establishment of its Corporate Governance Committee on Thursday, December 4, to support the implementation of the revised 2025 BVB Corporate Governance Code. Romania’s capital market recently celebrated 30 years of activity and is undergoing significant corporate governance reform. The revised BVB Corporate...
Daniel Băluţă, the mayor of Bucharest's District 4, signed the order to start work on the extension of the M4 subway line on Thursday, December 4. The investment is valued at EUR 3.5 billion and the route will be 11 kilometers long, between Gara de Nord and Gara Progresul railway stations. The extension will have 14 […]
Ten entrepreneurs and executives have launched Food Angels Hub, a community of investors dedicated to the food sector. The aim of the hub is to “develop and scale functional and profitable companies in the food, hospitality and food-tech sectors” and “turn Romania into a reference point for food innovation in the CEE region.” The founders […]
Romanian developer IULIUS announced that it secured a syndicated loan facility amounting to over EUR 305 million for its Palas Iași mixed-use complex. The financing is provided by a consortium made up of Erste Group Bank Austria, BCR, Raiffeisen Bank Romania, and Raiffeisen Bank International Austria. The loan will support the remodelling of Palas Iași […]
