Real estate market still emerging
08 May 2008
The Romanian real estate market is still an emerging one, but we should not expect prices to rise as spectacularly as they did during the past few years, Jeni Dragomir, President of the ''Perfect Casa'' Real Estate Company said. ''Similarly to any other stock exchange or real estate market, the Romanian real estate market must have cyclical increases, stagnations and even decreases. The important fact is that real estate property represents a profitable long-term investment, even considering inflation,'' Dragomir pointed out.
''The Romanian real estate market is constantly evolving, tending to reach maturity, in a natural process, previously attended by other fields as well. The time of speculations – when one could achieve a fabulous profit by reselling a lot or an apartment in three or four months – is through.
Both investors and persons who purchase villas and apartments in order to live in them must understand that the Romanian real estate market is still highly profitable, yet it must be considered as an opportunity for medium- and long-term investments,'' Dragomir emphasized.
''Moreover, even if estimations on the level of inflation at the end of the year 2008 have been revised to increase, we must not forget that an efficient labour market, with a relatively low rate of unemployment, that only reached 4.2 pc and increasing wages is a great support for the real estate market, beside other macroeconomic factors, obviously,'' the President of Perfect Casa added.
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