Bucharest apartment prices continue dropping

Prices of old apartments in Bucharest have remained on a downward trend since the beginning of the year, dropping by as much as 21 percent for two-bedroom properties in the Dorobanti-Floreasca, Berceni and Cotroceni neighborhoods, according to Mediafax which cites data from imobiliare.ro.

Despite the decrease, the Dorobanti-Floreasca neighborhood still has the most expensive two-bedroom apartments (old properties built before 2000) in Bucharest. Average prices here reach EUR 130,000 which means some EUR 1,527 per sqm.

In the top of the most expensive two-bedroom apartments in the capital, Dorobanti-Floreasca area is followed by the Unirii area where average prices amount to EUR 125,000 (EUR 1,507/sqm). Compared to the beginning of the year, apartment prices in downtown Unirii have remained flat.

The next positions in the top are held by the Decebal-Calarasi area (EUR 118,000, EUR 1,409/sqm, down 6 percent), Dacia-Eminescu (EUR 110,450, EUR 1,207/sqm, down one percentage point) and Cotroceni (EUR 108,000, EUR 1,241/sqm, down 11 percent).

On the flip side, the lowest prices for two-bedroom apartments in Bucharest can be found in Grivitei-Gara de Nord area (EUR 61,000, EUR 1,061/sqm, up 4 percent since the beginning of the year). This is followed by Drumul Taberei, Rahova, Berceni, Colentina and Pantelimon where prices range on average between EUR 62,250 and EUR 66,000.

For one-bedroom apartments the highest decreases reached 15 percent in neighborhoods such as Ferdinand, Berceni and Parcul Carol.

The most expensive one-bedroom apartments can be found at Unirii (EUR 100,000, EUR 1,543/ sqm, up 2.9 percent since the beginning of the year) followed by Decebal-Calea Calarasilor (EUR 86,500, EUR 1,375/sqm, up 0.4 percent). The lowest prices are in the same neighborhoods as two bedroom apartments, averaging between EUR 50,000 and EUR 51,000, with little change since the beginning of the year, according to imobiliare.ro.