Darian sees property assets value falling by 90% in 2009
19 February 2009
The depreciation of local property market is expected to continue in 2009, with property assets value seen down by up to 90%, Darian valuation and consultancy company, said. On the residential segment, Darian analysts estimate a drop of up to 50% in the value of housing units this year. In 2008, property assets value fell by 30%.
''No new foreign investors are expected to enter the real estate market in 2009. The only companies which could still be interested in Romania are those that want to take advantage of properties, at ten cents to every dollar,'' Darian’s General Manager, Adrian Crivii, said.
The company, which has a 15% share of the local real estate valuation market, posted RON 14 million (EUR 3.8 million) in turnover in 2008, up 12% on the year.
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