Asking prices for Bucharest apartments up by 6.5 pct in 2016, says Imobiliare.ro

Newsroom 03/01/2017 | 16:08

Asking prices for Bucharest apartments were up by 6.5 percent in December 2016, compared to the same month a year ago, according to data released by online real estate platform Imobiliare.ro.

The average asking price in Bucharest stood at EUR 1,138/sqm in December 2016, according to the same source. The highest y-o-y growth was posted by housing units located in newly built residential projects whose asking prices were up by 9.8 percent to an average of EUR 1,175/sqm. The so called “old apartments” meaning housing units in apartments blocks built before 1990 posted a lower growth rate of 5.7 percent, reaching an average of EUR 1.082/sqm at the end of 2015.

Most wannabe owners were interested in housing units priced between EUR 40,000 and EUR 60,000 (27 percent at the end of 2016 compared to 29 percent at the end of 2015), followed by those looking for properties priced between EUR 60,000 and EUR 80,000 (24 percent vs. 22 percent), under EUR 40,000 (13 percent vs. 16 percent) and those looking for properties priced between EUR 80,000 and EUR 100,000 (12 percent vs.11 percent), indicates the Imobiliare.ro data.

Countrywide, asking prices were up by 10.7 percent over the past 12 months from a national average of EUR 951/sqm to EUR 1,053/sqm, according to the same source. An analysis of the residential market in the main regional cities throughout the Romania shows that asking prices were up by 1.3 percent in Iasi (EUR 858/sqm at the end of last year), by 2.6 percent in Brasov (EUR 901/sqm), by 5.6 percent in Constanta (EUR 968/sqm), by 9.3 percent in Timisoara (EUR 1,027/ sqm) and by 11.4 percent in Cluj-Napoca (EUR 1,244/sqm).

Simona Bazavan

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