Apartment asking prices lost 1.2 pct in August

Razvan Zamfir 07/09/2018 | 10:54

Under normal market conditions, trading on the housing market tends to be lower in August – a period when many Romanians are planning their holidays – even compared to other summer months. In this context, the apartments available for sale at national level (both new and old) have been cheaper, according to imobiliare.ro index, by 1.2 percent last month, from EUR 1,212 per square meter at the end of the year July) to EUR 1,197 per square meter.

The downward trend was not felt in all the major cities of the country: among the regional centers only two had price decreases in the analyzed period (the most notable in the Capital), while the other had increases.

Bucharest

In the country’s largest city, claims of apartment vendors dropped 1.2 percent last month from EUR 1,318 to EUR 1,302 per square meter. Decreases were recorded on both analyzed market segments: dwellings in old blocks fell less, by 0.6 percent more precisely (from EUR 1,239 to EUR 1,231 per square meter), while new-built buildings experienced a 2 percent decline over a month (from EUR 1,374 to EUR 1,346 per square meter).

Brasov

In the city at the foot of the Tampa, imobiliare.ro Index recorded a downward trend in prices last month. The apartments put up for sale here have generally cheaper by 0.8 percent, from EUR 1,071 to EUR 1,062 per square meter. And in this case, the old dwellings recorded a smaller decrease of 0.5 percent, from EUR 1,059 to EUR 1,054 per square meter. New residential units, on the other hand, depreciated by 1.7 percent, from EUR 1,104 to EUR 1,085 per square meter.

Prices up in Cluj-Napoca, Constanta, Iasi and Timisoara

Cluj-Napoca

In the capital of Transylvania, the expectations of homeowners increased by 0.9 percent in August, reaching an average of EUR 1.525 per square meter (compared to EUR 1.511 per square meter at the end of the previous month ). Old apartments appreciated by 1 percent at this time (from EUR 1,551 to EUR 1,566 per square meter) and the new ones recorded an advance of 1,5 percent (from EUR 1,461 to EUR 1,483 per square meter) – which has narrowed the gap between the two market segments.

Constanta

In the seaside town, apartment prices recorded a slight upward trend overall in August – a 0.2 percent, from EUR 1.139 to EUR 1.141 per square meter. However, the two analyzed market segments had different evolutions: if the dwellings in the old blocks appreciated by 0.4 percent (from EUR 1.133 to EUR 1.138 euro per square meter), the new residential complexes lost 0.5 percent (from EUR 1.156 to EUR 1.150 per square meter).

Iasi

In the northwest of the country, according to imobiliare.ro, appeared the largest increase in the average asking price of apartment sellers. Thus, in the last month of summer, owners’ claims increased by 2.9 percent, from EUR 1,016 to EUR 1,045 per square meter. Although both market segments have seen increases during the period under review, the magnitude of the variations was different: housing in the old blocks appreciated by 0.9 percent  (from EUR 1,010 to EUR 1,019 per square meter), but the newly built – they grew by 4 percent (from EUR 1,018 to EUR 1,059 euros per square).

Timisoara

In the capital of Banat there was a slight increase in the average asking price by the sellers, namely a plus of 0.3 percent, from EUR 1,200 to EUR 1,204 per square meter. The upward trend was supported, however, only by the units of the new residential complexes, which recorded an advance of 1.9 percent, from 1,184 to EUR 1,206 per square meter. The old apartments, on the other hand, slightly depreciated 0.2 percent, from EUR 1,206 to EUR 1,203 euros per square meter.

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