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Romanian National Bank governor Isarescu: high real estate prices scare market

de A.C.
Joi, 17 aprilie 2008, 15:29 English | Business

Romania's National Bank solicited statistical data from notaries on the real prices of the real estate transactions because unrealistically high offers only scare the market, Bank governor Mugur Isarescu declared on Thursday. He said that the market needed to offer real prices so that a real assessment of whether the estate industry is going to crash or not be made.

On the other hand, Isarescu said that experts' fears might be justified if current prices are real. Bank representatives met notaries to exchange statistical data on real estate transactions. According to a Bank press release, the data will be used by Romania's National Bank to evaluate the financial stability of the real estate market.

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