"The equation is simple. If the man who saved up money wants to have even the smallest interest rate but real positive now sees himself being penalized (...) with negative real interest. And where can he take his savings to? He places them into something that gives him the feeling that it will increase in value. But this feeling changes. It growths up to a point and then begins to decrease. What is the point in any speculation? That story with the emperor’s old clothes ... until one cries out the king emperor is naked. Then the perception changes " Isărescu said.
The data show that housing prices in Romania in early 2014 had the fourth largest drop from 45 countries in the world according to globalpropertyguide.com portal. The collapse of the real estate in Romania is second only to countries with a complicated economic situation: Russia, Greece or Spain, according to the source. Altogether, newly built homes in major cities in Romania were cheaper by up to half of the peak reached during the housing market in 2008, according to imobiliare.ro. And the apartments in old buildings have decreased by percentages between 32% and 57% in the six main cities in Romania, in all categories, from 2008 up to the present.