Almost half of CFA certified professionals believe that urban residential property prices will decrease over the next 12 months, while 81% believe that current prices are overpriced, CFA Romania said in a statement.
The Romanian CFA Association is an organization of investment professionals from Romania who hold the title of Chartered Financial Analyst (CFA®), a qualification administered by the CFA Institute (USA).
In fact, according to the report of the National Bank, it takes about 11 years to buy a 2-room house (55 sq. m) without applying to banks, to buy the same house (55 sq. m) without a loan. real estate in Vienna takes 12 years, almost 18 years in Prague and about 15 years in Budapest and Warsaw.
The indicator of macroeconomic confidence of the CFA Association of Romania increased in March, for the fifth month in a row, (by 4 points) to the value of 57.1 points. This situation was caused by the expectation component, which recorded an increase of 7.7 points to a value of 53.6 points. The expected level of inflation on the 12-month horizon was 8.96% on average.
Regarding the EUR/RON exchange rate, 81% of participants expect the lei to depreciate over the next 12 months (compared to the current value). Thus, the average value of expectations on the 6-month horizon remained below the value of 5 lei per euro, amounting to 4.9814 lei per euro, while on the 12-month horizon the average value of the expected exchange rate is 5.0274 lei. for euros
In 2023, the expected value of real GDP growth increased compared to the previous period to 3%.
Public debt to GDP is expected to rise to 54% in the next 12 months.
Adrian Codirlasu, CFA – Vice President of the Romanian CFA Association states: “In the context of positive news from the economy, analyst confidence continued to rise in March, in line with improved expectations for economic growth in 2023. They also improved expectations for the continuation of the disinflationary process, which is supported by the expectation of lower interest rates next year.”
Photo source: DreamsTime
Source: Hot News
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