STC Partners: The housing market lost ground in 2023, but 2024 promises a significant comeback

Romania’s residential real estate market faced challenges in 2023 but showed resilience, with transactions declining modestly by 5-15% compared to the previous year. The market is expected to recover significantly in 2024, driven by favorable macroeconomic conditions, attractive financing options, and increased buyer confidence, with transactional activity potentially approaching the record levels of 2021-2022.