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Real estate: Apartment prices drop to 934 euro/sq.m. on the average
Apartment prices dropped by 4.5% at national level, in the first 6 months of 2013, from 978 euro/sq.m in January to 934 euro/sq.m in June, according to a study made by Imobiliare.ro .Compared to the same period of 2012, prices dropped by 0.4% while the annual decline was 1.3%.Compared to June 2012 the present prices are 5.4% lower.On the other hand the situation was different in other towns registering price increases.
Cluj-Napoca, Timisoara and Constanta are towns where apartments were more expensive early this year. Cluj Napoca is the first on the list with an extra 3.7% for new and old apartments, from an average of 896 euro/sq.m in January to 930 euro/sq.m in June. The present value is 2.6% lower than in the same period of 2012. The advance of the first 6 months of 2013 was generated by new apartments which were 7.4% higher from 825 to 886 euro/sq.m.
In Timisoara, new and old apartments were 1.5% more expensive in the first half of the year, starting from 785 euro/sq.m and reaching 797 euro/sq.m at present, the same as in June 2012. The price increase was dictated by old apartment owners who asked prices higher by 3.1% from 769 to 793 euro/sq.m.
In Constanta, prices had a positive evolution in the first half of the year, growing by 0.3% from 856 to 859 euro/sq.m. The present value is 3.9% higher than last year. In Constanta the price rise was influenced by the evolution of prices for new apartments which grew by 2.1% from 864 to 882 euro/sq.m.
The capital city ransk first in the top of price drops. Here Imobiliare.ro mentions a decline of 3.9% in 6 months, from 1,138 to 1093 euro/sq.m. Compared to July 2012, the average price for an old or new house in Bucharest is 3.4% lower. In the last 6 months, new houses were 4.4% cheaper from 1,278 to 1,222 euro/sq.m. Old apartment owners reduced prices by 2.7% from 1,046 to 1,018 euro/ sq.m.
Ploiesti is the second town with cheaper prices, with – 3.8% in 6 months, from 816 to 785 euro/sq.m. In June prices dropped by 2% compared to May. Compared to 2012 the present value is 5.1% lower.
In Brasov, Imobiliare.ro shows 835 euro/sq.m, on the drop by 2.6% early this year. Compared to 12 months ago, the average price requested for an apartment in Brasov is 2.1% lower. In the first part of 2013, the decline was visible in the new apartment segment by 3.2% from 923 to 893 euro/sq.m.