Romania-2nd place in Europe to lower prices on the residential market

House prices in Europe are again collapsed after an apparent recovery, the residential market on the continent recorded the worst possible route. As forecast some analysts, the evolution of the W- house prices has occurred in many European countries, resulting in reduction of real estate assets of most citizens in the EU, according to the latest analysis by specialists Global Property Guide (GPG). Thus, the number of markets which have seen increases in housing prices was lower in the 12 months ended in trim. II in 2011 against the same period in 2010. In most European countries have low prices, and countries that were negative stars of recent years, such as Ireland, Greece, Spain and Romania have also shown a further collapse of prices.

An overview of the global residential market still shows a decrease in the value of homes, says the analysis GPG. In 27 market prices fell, and 18 was observed to accelerate the decline. Only in Asia the residential market in certain countries still growing, despite the measures designed to cool the real estate specualations interest taken by certain governments. Hong Kong is an example of this, where he recorded the largest price increase (19.7%) in one year (until the end of the quarter. II 2011), with a quarterly increase of 3.5%.

Figures for the period between trim. III 2010-trim. II 2011 are disappointing but for homeowners in the U.S.. Here, prices have decreased by 9.05% (-5.93% in real terms) in the second quarter of 2011 compared to last year, which is the largest decline since 2009, according to Federal Housing Finance Agency (FHFA) . During the second quarter prices fell by 2.33% (-0.63% adjusted for inflation). Evolution’s main negative influences and increasing the number of houses made of properties ready for sale. Approximately 3.7 million homes were offered in U.S. trim. II in 2011, the highest recorded level after quarter. III in 2010, according to the National Association of Realtors (NAR). Enforcement of houses were in turn influenced by rising unemployment, which in that period came to 9.1% in the U.S..

House prices in most European countries have seen greater declines compared with last year. Countries in the group negative stars, with the steepest price declines in recent years, such as Ireland, Greece and Spain, went through a period even worse. Ireland recorded the steepest decline in house prices in the 12 months to the end trim. II in 2011. Thus, deflation was in Ireland residential 14.84% during that period, being a weak year for sellers from a year earlier, when the evolution of prices was -11.83%, down.

The list of countries that have higher discounts from the previous year (adjusted for inflation) are the Netherlands (-4.07%), Slovakia (-6.49%), Croatia (-6.55%), Spain (-8.43%) and Greece (-9.88% for Athens). In Romania, despite the effect of stagnation printed program, first house, “his interruptions caused deflation manifested by lowering the average residential price of 10.16% (according imobiliare.ro) during that period, compared with a reduction of 5.06% in the previous year, the figure unadjusted for inflation. However, comparison with quarter quarter showed some slowdown in decline, with prices averaging only 0.86% lower.

Other European markets, which saw the price recovery, have plunged over the past year again below the level a year earlier. In Latvia, after a year in which apartment prices rose, there was a decrease of 5.4% in 12 months (to end quarter. II 2011). Comparing quarter quarter, real estate prices fell by 3.8%.
And in Britain the average price fell by 5.33% in annual profile, after an increase of 6.04%. In Portugal, homes are starting to trim devalues. III 2010, and during the survey period (first quarter 2010-third quarter. II 2011) prices have lost 5.6%.

Several other European countries that have witnessed the cheaper housing is distinguished by the deceleration in the rate decline. In this category belong to Lithuania, Ukraine, Russia and Turkey. In Lithuania, apartmentelor prices fell 4.29% over the year by the end of quarter. II in 2011, a true “performance” compared with the result last year, when the residential market was devalued by 15.7%. Kiev, Ukraine, market values ​​of apartments were reduced by 8.44% in the period under review, after one year earlier they were reduced by 17.15%. And Russia and Turkey, prices fell in the year to trim profile. II in 2011 to 5.25% and 1.55% from 8.06% and 3.53% a year earlier.

Source : Financiarul.com

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