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Housing prices go up by 7% in first 6 months of 2017, mainly in Cluj Napoca
The price of housing in Cluj Napoca has registered the highest increase of 10%, at national level, in the first 6 months of the year, while the lowest, of 5.4% was in Bucharest, according to Imobiliare.ro index.
After an advance of 0.5% in June, the average price for available apartments for sale at national level (new and old) grew up by 6.7% in the first half of the year, reaching 1,120 euros per square metre (compared to 1,050 euros/sq.m at the end of December 2016).
With one exception, prices of new houses/apartments went up more than those of old ones, in the analysed period, according to Imobiliare.ro.
Cluj Napoca:
With a plus of 10% in 6 months, Cluj Napoca recorded the highest price increases: 1,372 euros/sq.m on the average, compared to 1,247 euros/sq.m at the beginning of the year and 1,349 euros/sq.m at the end of May. In the first half of 2017, prices of old apartments went up by 9.4% from 1,279 to 1,402 euros/sq.m (mention should be made that a 2.6% increase was made in June). New apartments were more expensive by 12.3% in 6 months (from1,184 to 1,330 euros/sq.m) which contributed to the visible drop of the difference to the old house market.
Iasi:
Iasi ranks second in the top of price increases in 6 months, with a plus of 9.6% (from 854 to 936 euros/sq,m) while in June there was a 1% advance. Old apartments went up by 5.9% in the first half of the year (from 878 to 930 euros/sq.m), while new ones went up from 825 to 939 euros/sq.m, marking a difference of 13.8%, the most significant advance recorded in the first semester in the new market.
Timisoara:
In Timisoara, the average price for apartments for sale went up by 0.6% in June and 8.2% in the first semester of 2017 (from 1,027 to 1,111 euros/sq.m). Timisoara is the only town where old houses were more expensive than the new ones in the first 6 months. The former appreciated by 9.3% (from 1,018 to 1,113 euros/sq.m) and the latter by 4.4% (from 1,056 to 1,102 euros/sq.m).
Constanta
The price of houses went up by 1.5% in June and 7.3% in the first half of the year (from 973 to 1,044 euros/sq.m). Old apartments were more expensive by 6.9% in 6 months (from 969 to 1,036 euros/sq.m) while the price of new ones went up by 9.2% (from 989 to 1,080 euros/sq.m).
Brasov
In Brasov, Imobiliare.ro shows a price increase of 0.6% in June and 6.2% in the first semester of 2017 (from 900 and 956 euros/sq.m). In the last 6 months, old apartments in Brasov went up by 5% (from 911 to 957 euros/sq.m). New apartments were more expensive by 9.4% (from 870 to 852 euros/sq.m).
Bucharest:
Despite different tendencies between the old and new market, houses in Bucharest maintained at a constant price level of 1,203 euros/sq.m. In the first half of the year prices went up by 5.4% from 1,141 euros/sq.m in January. Old apartments appreciated by 5% in 6 months (from 1,090 to 1,144 euros/sq.m) and the new ones by 7% (from 1,172 to 1,254 euros/sq.m).