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Real estate experts have contradicting views on evolution of prices

When the market experiences a longer waiting time, then prices fall, as Frans Burgering, chairman of the European Council of Experts in Real Estate (CEPI), has recently declared, cited by HotNews.ro Although he did not believe that the European market would be strongly affected by the financial crisis, such as the US market, Frans Burgering admits the emergence of negative signals at the level of the European real estate market.

"I do not think one can speak about a major financial crisis in Europe, but there are issues from country to country, depending also on how much local authorities involve, on the national control systems," as Frans Burgering said during Condominium conference on real estate.

On the other side, Gabriel Zamfir, chairman of the union that CEPI represents in Romania, thinks that the prices of new flats will not fall more than their current level at fairs. Attending the same event, Gabriel Zamfir, chairman of the National Real Estate Union (UNIM), which represents CEPI in Romania, has a different opinion.

"The prices at new houses and flats will not fall more than their current level at fairs. Those expecting the market to drop in order to buy cheaper are wrong," Gabriel Zamfir says. He warned BNR and the bankers on the dangers related to the fall of the real estate market.

"If the financial market does not make an effort to support the buyer, I draw your attention, bankers, that you have mortgages which may not represent a real guarantee any longer, as evaluations took place when the market was up and prices were high, and if the market falls, you will rush to have your money back in vain. Banks help people to access loans and unless, you bankers, shake hands with house developers and buyers, we shall all have problems," Zamfir added.

Moshe Agavi, Manager Director at Seven Hills, warned on the new BNR norms. "We think that once with the implementation of the new BNR norms, the middle class may no longer afford buying houses in Romania. Unless a mortgaging system is provided to enable accessible lending for the middle class, which is the fundament of any economy, then these persons will no longer stay in Romania, they will leave to other countries," Agavi said.

 

Sursa: http://www.nineoclock.ro

Tags: market prices estate bnr

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