Vasilescu noted that the profit margins of real estate players are very large and this results in high prices for houses. The official believes the Romanian real estate market needs a regulatory and control body as it would become more transparent. “In addition to that, there is the need for more competition,” Vasilescu noted.
Gabriel Zamfir, head of the National Union of Real Estate Agencies, believes solutions must be found for cheaper financing sources both for real estate developers and final consumers. The official explained house prices are determined by two factors: supply and demand and financing costs.
Source: Newsin
