A new study by Imobiliare.ro says that the apartments’ prices increased by 30 percent since 2014, the year when the market was at its lowest point.
According to the study the prices increased by 1.9 percent per square meter (sqm) for new and old apartments, which means that the prices went from EUR 1,141 to EUR 1,163. The significant breakthrough happened in Cluj-Napoca and so the authors of the study expressed their concern saying that this market could overheat.
While Cluj-Napoca real estate market prices increased to EUR 1,455 from EUR 1,426 in the last month and 78 percent since 2014, Bucharest prices only increased by 0.3 percent (EUR 1,250 to EUR 1,254) last month and by 21 percent since 2014. Brasov’s residential market recorded a 2.8 percent increase per sqm in September and Constanta’s real estate prices have grown by 0.7 percent since last month.
The only studied city in Romania where the prices declined in September is Timisoara. They fell from EUR 1,134 to EUR 1,129 (0.4 percent) per sqm in the last month. But even with this decline there was still a growth of 45 percent since 2012, the year of their lowest point in prices per sqm.