Romanians' real estate wealth

Romania’s houses and apartments could be valued at almost 400bn euros, namely an average real estate wealth of around 19,000 euros per each Romanian, taking into account the values of a real estate index drawn up by Eurobank Property Services (EPS), a subsidiary of Eurobank Greek group, the owner of Bancpost.
The index shows the average value of a Romanian housing unit in late 2010 stood at 47,000 euros, while at the level of Bucharest the average value of a housing unit revolved around 79,000 euros, maintain EPS representatives.
Nationwide, housing unit volume stands at 8.4 million units, while Bucharest has 800,000 houses and apartments, so that the total value of Bucharest housing units could be put at 63bn euros.
However, the values presented by Eurobank Property Services could be double the real ones, considering that according to National Statistics Institute data the average area of Romanian houses and apartments stands below 40 square metres, while in Bucharest-Ilfov area it slightly exceeds this threshold.
Thus, the average price per housing square metre in Bucharest reaches almost 2,000 euros, according to EPS data, against the 1,100 euros per square metre, the average price requested for Bucharest housing units, according to real estate ad websites.