A decline in real estate deals on the residential segment was registered since the beginning of 2008. According to specialists, this is due to rumors and data published in the media regarding an imminent drop of the housing market and because several investors decided not to buy because of housing crises in Spain and Britain.
“I think the market will revive this fall, as we have already seen greater interest on the part of buyers who are requesting information about all the projects we are involved with,” according to a statement for Business Standard by a representative of Colliers International, Ilinca Paun.
However, the CEO of Banca Transilvania, Robert Rekkers, is more pessimistic, as he estimates demand will be back on track in nine months, or up to one year.
There was a drop in the number of transactions only in March and April, mainly due to rumors published in the media, said the representative of the Regatta real estate consulting company, Sorin Lacusta. “Things are getting back to normal and, in mid-year, when people see prices are no longer dropping, there will be more acquisitions,” Lacusta added.
