Asking prices for Bucharest apartments up by 1.4 pct this January, says Imobiliare.ro

Newsroom 06/02/2017 | 12:19

Asking prices for Bucharest apartments were up by 1.4 percent in January compared to December, according to data released by online real estate platform Imobiliare.ro.

The average asking price in Bucharest stood at EUR 1,157/sqm in January, up from EUR 1,141/sqm a month before, according to the same source. This was up by 9.8 percent compared to the same month a year ago. The growth in January was fueled almost entirely by the so called “old apartments” meaning housing units in apartments blocks built before 1990 whose owners increases asking prices by 3.7 percent m-o-m to an average of EUR 1.130 /sqm. Prices for apartments located in newly built blocks posted a relatively stable evolution, averaging at EUR 1,173 /sqm.

Countrywide, asking prices were up by 1.3 percent in January against December from a national average of EUR 1,050/sqm to EUR 1,064 /sqm, according to the same source. This was up by 9.6 percent y-o-y.

An analysis of the residential market in the main regional cities throughout the Romania shows that asking prices were up by 3.6 percent in Iasi (EUR 885 /sqm at the end of last year), by 2.2 percent in Brasov (EUR 920/sqm), by 1.6 percent in Constanta (EUR 989 /sqm), by 0.3 percent in Timisoara (EUR 1,030/ sqm) and by 0.8 percent in Cluj-Napoca (EUR 1,257 /sqm).

Simona Bazavan