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As the real estate market in Romania is excessively unstable, the National Bank of Romania (BNR) is forced to intervene through its credit policies, said BNR councilor Adrian Vasilescu.

The real estate market is full of hope about the effects of the accession to the EU, said the official, expecting citizens of member states to rush in with lots of money to buy property in Romania.

The BNR governor’s aide drew the attention of realtors to two issues.
On the one hand, both citizens of EU member states and Romanians (about whom the institution recently revealed that their deposits in banks outside Romania has almost reached the one billion euro threshold) might be much less attracted by the local offer, which is already more expensive than that of other countries in the region.(source)