Real estate: Apartment prices may drop in months to come

The residential market might face a blockage in the months to come, which could generate a price drop, specialists in the field estimate in an analysis.

According to the source, about 2,300 apartment were on sale in January 2019, on the rise by 25%, compared to the same period of 2018, prices being similar to the ones of December and 5-8% higher compared to January 2018.

“In Bucharest 25,000-30,000 apartment are on sale every year. The highest number of offers were recorded in 2008 (36,000) and the lowest was in 2009 (only 22,000 offers),” the analysis shows.

26,626 apartments were on sale in Bucharest in 2018 and if the trend recorded in the first month is kept until the end of the year, then there will be about 33,000 offers in the market in 2019.

As for prices requested by owners, even though market offer has grown, there have not been significant changes so far and prices remain 5-8% higher than in the same period of 2018, being about the same as December 2018 prices.

The average price of one room apartments in Bucharest is 44,400 euro, two room apartments cost 64,500 euro, 3 room apartments 91,000 euro and 4 room apartments 123,000 euro.

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