The number of homes in Romania at the end of 2007 stood at 8.27 million units, of which almost 10 percent are located in the area of the capital city Bucharest, reads a study of the real estate market made public by UniCredit Tiriac Bank on May 21.
The study, using data of the National Statistics Institute, shows that the number of homes in every one thousand people was 381 (407 in Bucharest), going up from 352 homes in every one thousand people at the beginning of the decade, but under the regional average of 413, and even fewer than the average in Western Europe (472).
The number of new homes has constantly gone up as of 2000 and a boost in the construction activity took place over 2006-2007. Thus, in this period, the number of completed units all over Romania went up an average 18 percent per year, against under 5 percent in the previous years, the study reveals.
Individuals built most of the homes in the rural areas, according to UniCredit Tiriac Bank, while the homes built by expert companies accounted for only 14 percent of the total in 2006.