The Romanian real estate valuation market is estimated at EUR 35 million, more than half being represented by dealing with banks, said the president of the National Association of Certified Valuators in Romania (ANEVAR), Adrian Vascu quoted by Mediafax.
“The Romanian real estate valuation market is at EUR 35 million. More than half is represented by the relationship with the banks. It is still not a very big market, if compared with the financial audit, which exceeds EUR 120 million. It is a growing market. It should increase along with the importance of services in the market, the confidence that clients have and tariffs that the valuator receives, because no one will pay an assessor if not satisfied by their services,” said Vascu.
Adrian Vascu claims that the Romanian valuation market is the most developed among neighbouring countries.
“The difference between the Bulgarian market and us is like the difference between the American Institute and us. We are far from the Bulgaria, very well organized, but we still have a long way to go. Compared with countries in the region are well off. Compared to Poland we are better organized, we a modern and dynamic law. In terms of buying power and tariffs are under Polish “added Vascu.
Although ANEVAR enrolled approximately 4,000 appraisers, average earnings are estimated at EUR 20,000 per year.
“In a market of EUR 35 million, we have 4,000 appraisers registered in ANEVAR and would lead to an average of EUR 8,000. It is not a realistic calculation because many do not live on the ratings. An average fair is somewhere at EUR 20,000 per year. If we compare this to the US market, which is somewhere at USD 145,000 per year, we are still at the lowest level,” added Vascu.