According to representatives of RE/MAX Romania, H1 2024 was marked by a more active approach of real estate buyers, reflected in a 5% increase in the volume of sales transactions and an increase in the value of properties by approx. 8% compared to the same period of the previous year. The positive development in this segment is mainly due to lower interest rates on mortgages and an increase in the transaction price of properties.
Banks' offers for this product also led to an increase in the percentage of properties purchased by credit, by 40% compared to the first semester of the previous year. On the other hand, the RE/MAX Romania data also shows a decrease in the volume of transactions in the rental segment compared to H1 2023.
Most of the intermediations realized by RE/MAX Romania offices were recorded on the residential segment - approximately 90% of the total transactions and only 10% being on the commercial and industrial area. At the same time, the most sought-after types of dwellings were two-bedroom apartments, followed by houses and apartments with three or more rooms. Old apartments also stood out among Romanians' preferences, at the expense of new ones, as well as properties located in neighboring areas.
"In the first semester of this year we have seen a clear upward trend in the number of sales transactions, boosted by the increased accessibility to sources of financing. For the second half of the year we anticipate that this trend will continue, with a possible increase in prices in high potential cities. Easier access to credit and competitive offers from banks will play a crucial role in this development," said Răzvan Cuc, President of RE/MAX Romania.
In terms of value, at the top of the transactions brokered by RE/MAX Romania consultants in H1 2024 is an industrial property in Brasov, with a value of €2.1 million, respectively two residential plots of land, located in Bucharest and Brasov, with prices of over €2 million and €1.5 million.
In Romania, RE/MAX is the largest network of franchised real estate offices, with the largest number of real estate agents, having, at present, approx. 60 franchises and over 700 members. RE/MAX is recognized as the strongest national brand in real estate.
Globally, RE/MAX is the leader in real estate, being the No. 1 franchise globally in this segment. The company, founded in 1973 in Denver, today has more than 140,000 affiliated agents in 8,300 offices located in more than 110 countries worldwide. In Europe, RE/MAX is present in 40 countries, with more than 2,400 offices and 30,000 agents, and continues to expand.
