Bucharest apartment prices drop 4 percent in H1 says imobiliare.ro

The average per square price for new apartments in Bucharest was EUR 1,295 this June, down 8 percent y-o-y and 6 percent against December 2011, according to imobiliare.ro which analyzed the evolution of asking prices. Studios and one-bedroom apartments dropped 8.6 percent while two-bedroom apartments decreased by 3 percent. For old apartments prices averaged EUR 1,064 per sq m this June, down 3.2 percent y-o-y.

Overall, the asking price of apartments in Bucharest has decreased in the first semester by 4 percent, reaching an average of EUR 1,134 per sqm.

The capital was no exception, average apartment prices dropping in all the first six largest cities in Romania by up to 4.5 percent – a level reported in Ploiesti. Timisoara saw the lowest price reduction of only 0.5 percent. The highest decrease on the new apartments segment was reported in Cluj-Napoca where new apartments decreased by as much as 6.7 percent in June compared with the beginning of the year, averaging EUR  803 per sqm, according to imobiliare.ro.

Simona Bazavan

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