Romania housing market has best year since financial crisis

Romania's housing market enjoyed its best year since the financial crisis, according to Coldwell Banker Affiliates.

The consultancy firm sold over 1,000 new apartments in residential compounds in 2014, up 30 per cent from 2013.

"2014 was the best year for the residential market since the beginning of the financial crisis and can be considered the year of stabilization. Prices continued their stabilization trend and developers have launched a series of projects, the interest for the residential market reaching high levels," Valentin Ilie, CEO Coldwell Banker Affiliates of Romania, is quoted by Romania Insider as saying.

The company forecast that over 7,000 housing units would be completed in 2014 in residential projects within Bucharest and its surrounding areas, which would surpass the figures recorded during the market's peak years.