THE EFFECTS OF COVID 19, THE ENERGY CRISIS AND THE RUSSIAN-UKRAINEAN WAR ON THE REAL ESTATE MARKET IN ROMANIA

Elena Hlaciuc ()
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Elena Hlaciuc: Stefan cel Mare University, Suceava, Romania

European Journal of Accounting, Finance & Business, 2023, vol. 11, issue 3, 145-152

Abstract: The outbreak of the COVID-19 pandemic has dealt a heavy blow to global economic and social development, and the Russian invasion of Ukraine in 2022 has returned Europe to a state of unprecedented economic uncertainty. The aim of this research is to assess the repercussions of the crises resulting from the COVID-19 pandemic, the energy crisis and the war in Ukraine on the real estate market in the North-East of Romania. In order to achieve the aim of the research, we adopted an interdisciplinary approach, which allowed us to combine elements from the social sciences, including accounting and statistical-mathematical methods. Sources of information include both relevant scientific literature on the topic under investigation, but also quantitative analysis based on data from the National Institute of Statistics. The results of the study revealed that the real estate sector did not react in the same way as other sectors of the national economy during periods of health, energy and military crises, but more than that, it also maintained itself in terms of demand and sales prices. These results can be explained by the fact that many families from Ukraine have relocated to the North-East region of Romania, practically fleeing the conflict zones in Ukraine.

Date: 2023
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