Home buyers in Romania have among the lowest instalment payments for mortgages across the EU, according to a SVN Romania report.
Thus, the average instalment for buying a one-bedroom apartment in Bucharest held, at the end of last year, a percentage of 43% of the average net wage at a national level. By contrast, the average instalment for the same apartment in Budapest reaches 80% from the local average wage, while in Warsaw it reaches 83%.
Smaller values for the instalment / wage indicator are being registered in Berlin (44%), Rome (46%) and Madrid (52.5%).
The least accessible capital cities in Western Europe are London and Paris, both ratios over 80%.
“2024 started with much more positive premises for the local mortgage market and we estimate that the interest rates will continue to decrease, with the following months bringing the first fixed yearly interest rates below 5.5%,” said Alexandru Rădulescu, managing partner SVN Romania | Credit & Financial Solutions.
The apartment type included in the report has a net surface of 50 sqm, with an age up to 30 years and is based outside the central and semi-central areas of EU’s capital cities.
