The elimination of the 25% down payment for mortgage credits will prompt a new increase in the price of flats, according to representatives of the real estate market. In anticipation of a new increase in demand, the prices of flats have already risen by 6% in February, shows a ZF study based on ads published on anuntul.ro. As a result, the number of people who will take out real estate credits will rise, with demand being increasingly higher compared with the current supply. Although the new real estate projects could have steadied the price increase, they are however, not sufficient in number to meet the demand. At the same time, although the price per square metre is comparable with that of old flat, the large surface areas of newly built homes are responsible for the fact that the total value of a flat is not always affordable to middle class buyers. Prices for flats saw a considerable increase over the last period, being 11% higher against the same period last year, after doubling in the last two years. At the beginning of this year, the National Bank of Romania (NBR) put forward for public debate a draft Regulation, which, among other things, stipulated the elimination of down payments on real estate credits. In a few days' time, the NBR will publish a document in which new crediting conditions for individuals will be presented, as yet, only the principles have been established, according to Adrian Vasilescu, advisor of the NBR Governor.
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