Apartment asking prices exceed EUR 1,000/sqm threshold in February, says Imobiliare.ro

Newsroom 02/03/2016 | 16:03

Apartment asking prices increased by 4.5 percent on average this February m-o-m, thus surpassing the EUR 1,000/sqm threshold at national level for the first time in four years, according to data from online real estate platform Imobiliare.ro. By comparison, the increase stood at 2.1 percent in January.

Apartment owners asked on average EUR 1,051/sqm for their properties at the end of February compared to EUR 971/sqm at the end of January and EUR 924/sqm in February 2015.

Asking prices increased throughout the country, Bucharest leading the way with an average monthly increase of 3.3 percent this February (EUR 1,089/sqm) and a y-o-y hike of 5.3 percent, according to the same source. The average increase rate stood at 1.5 percent for “old apartments” (mostly apartments located in blocks built before 1990) reaching an average of EUR 1,044/sqm and 4.9 percent for new properties (EUR 1,123/sqm).

Elsewhere prices increased this February (m-o-m) by 3.2 percent in Brasov (EUR 912/sqm), 3 percent in Cluj-Napoca (EUR 1,186/sqm), 1.9 percent in Timisoara (EUR 970/sqm), 1.6 percent in Constanta (EUR 930/sqm) and 1.3 percent in Iasi (EUR 888/sqm).

Real estate agents have been talking about an increased number of transactions with residential properties this past month following uncertainties regarding the future of the Prima Casa state-guaranteed loan program and the final outcome of the ‘passing to pay’ law.

Simona Bazavan

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