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Evolution of the Bucharest's residential market
Bucharest's residential market is evolving at a steady pace in terms of the average asked prices and supply volume on the city outskirts and on the medium-premium segment (central, semi-central and north areas), according to a survey conducted by a real estate consulting company.
The asked average prices are at the same level for the third consecutive month. According to the HomeFinders survey, apartment owners are asking an average price of 50,000 euros on the city outskirts and 68,000 euros in semi-central, central and northern parts of Bucharest. Prices are calculated as an average between the two-, three- and four-room apartments.
As to May's supply volume in Bucharest, it increased by only 0.88% compared to April. Thus, the total number of offers in May was 3,079 apartments.
On an April basis, there were some oscillations in the supply volume in May, in terms of the two market segments: lower and medium-premium. April saw fewer flats on the outskirts put up for sale than in March, and in May the number of such flats increased by 4.41%. On the other hand, the number of suites up for sale in semi-central, central and northern areas of Bucharest went down by 2.71%.