The Clujians take the highest mortgage loans, and the Iasi and Timisoara pay the lowest rates. How will the credit market evolve in autumn
The Romanians took, in the first half of this year, loans for housing with a higher value than in the similar range of 2024, according to Imobiliare.ro Finance. In July, those who were already thinking of resorting to funding to become owners received an additional impetus, in the context of the VAT rate increase in 21%. From autumn, however, the demand for mortgage loans could diminish easily.
New mortgage loans, growing in the first half of the year
The total volume of credits granted to the households for the population for housing approached the first semester of the threshold of 30 billion lei, after a 32% advance compared to the same period last year, the data of the National Bank (BNR) shows.
The new mortgage loans, excluding the refinancing and restructuring of the existing loans, represented monthly, according to the NBR estimates analyzed by the Imobiliare.ro Finance specialists, up to 40% of the total loans granted by banks and summed up about 10.7 billion lei in the first six months. Their value was 24% higher than that related to the semester 1 2024.
“The lending market has maintained its upward trend in the first half of the year, starting from 2024. Paradoxically, political instability has supported this evolution, postponing the adoption of fiscal-budgetary measures with significant impact. However, some notable shocks were felt at times, such as the volatile increase of the Leo/Euro course, followed by a liquidity deficiency in the market, which impacted the commercial interest, a deficit generated by the NBR efforts to balance the course. The announcement of the elimination of the reduced VAT rate at housing, with application from August 1, had the effect of accelerating transactions in July on the segment of new housing.
Regarding interest, the NBR has maintained the level of 6.5%, a balanced decision that will not stop the economy, already affected, but will not generate short -term financing costs. IRCC for the fourth quarter will easily exceed 6%, increasing from 5.5%, influenced by the developments in the second quarter. For autumn, we estimate a temperament of the credit demand, without a market collapse or housing prices“, Declared Dan Niculae, CEO of Imobiliare.ro Finance.
Clujians take the largest mortgage loans. Iasi on the smallest
Imobiliare.ro Finance performed an analysis based on the intermediate loans in the first half of this year by the over 250 active brokers within the network present in 30 counties in the country. Find further the results.
The Clujians took the largest mortgage loans, and they are at the same time, the real estate buyers who pay the most to become owners. On average, the loans obtained through the brokers from the real estate.ro Finance had the value of 452,790 lei (the equivalent of about 89,250 euros). The amounts accessed locally were more than 17% higher than the level registered in the same period last year.
Most, however, increased, however, the average value of the credits obtained by the constants for the purchase of houses or for the refinancing of older mortgage loans. They accessed loans 22% higher. We discuss an average amount of 372,695 lei (73,609 euros)
The average value of the credits intermediates by the Imobiliare.ro Finance brokers has increased significantly in cities such as Brasov and Iași, both registering a strong advance at the level of prices requested on the residential market. The Brasovians accessed loans with 15% higher than in the first half of last year, and the people of 12% higher. Thus, the average value of a mortgage loan reached in Brasov at 398,537 lei (78,555 euros), and in Iasi for 332,558 lei (65,550 euros).
For comparison, mortgage loans with an average value of almost 10% higher, and in Timișoara were obtained, the advance was only 6% compared to the value registered in the first six months of 2024. Bucharest took from the bank an average amount of 379,485 lei (74,790 euros) to make a real estate purchase or to refinance the 354,791 lei (69,930 euros).
The lowest rates are in Timisoara and Iași. How much do you pay the rate in the big cities for a mortgage?
Clujians pay the highest rate for new mortgage loans and the refinancies they make. On average, they pay monthly, according to the intermediate loans in the first half of this year by the Local Office Imobiliare.ro Finance, the amount of 2,467 lei.
In the second place in the standings are the Brasov, they are followed closely by Bucharest and Constanţa. The average rate paid by Brasov decreased from 2,338 lei/month in the first semester 2024 to 2,213 lei/month in the first semester.
Bucharest people pay an average rate related to the mortgage loans of 2,074 lei. Constanta pays, for the mortgage loans they obtained in 2025, an average rate of 2,024 lei/month. The only inhabitants of the big cities in the country that pay monthly rates of less than 2,000 lei are the Timisoara and the Iasi.
