RSS
Real estate: Apartments more expensive by 30% compared to 2014
In September, the average amount requested for apartments sold at national level - both new and old- grew by 1.9%, from 1,141 euros per square meter at end of August to 1,163 euros/sq.m , according to a study made by Imobiliare.ro.
The present price is 30.5% over the lowest value noted since the beginning of the crisis, 891 euros per square meter, in December 2014. The most significant advance was recorded in Cluj Napoca.
In Bucharest, apartment prices grew by 0.3% last month, from 1,250 to 1,254 euros/sq.m. In February 2015, an apartment cost 1,034 euros/sq.m, a difference of 21%. In September, old apartments appreciated by 1.6% (from 1,154 to 1,173 euro/sq.m) and new ones by 0.3% (from 1,315 to 1,319 euro/sq.m).
In Brasov, Imobiliare.ro recorded an advance of 2.8% in September, from 952 to 979 euro/sq.m. The present value is 21% higher than the lowest level reached in Brasov since 2008 to the present day, of 806 euro/sq.m (in July 2014). Last month, old apartments were more expensive by 1.7% from 966 to 982 euro/sq.m. New apartments recorded a monthly advance of 5.2% from 924 to 972 euro/sq.m. However they are by 0.3% cheaper than 12 months ago (when their price was 975 euro/sq.m).
In Cluj Napoca, expectations of new and old apartment owners went up by 2% in September, from 1,426 to 1,455 euro/sq.m. Cluj is by far the town where apartment prices went up the most, the present value being by 78% higher than in January 2014 - 818 euro/sq.m. Last month old apartments were 3.3 more expensive (from 1,459 to 1,507 euro/sq.m) and new ones by 0.8% (from 1.379 to 1.390 euro/sq.m), according to Imobiliare.ro.
In Constanta, the average price of new and old apartments for sale went up by 0.7% last month, according to Imobiliare.ro, from 1,055 to 1,062 euro/sq.m. Compared to the lowest market price of 839 euro/sq.m reached in December 2013, the present level is 27% higher. In September, old apartment prices went up by 0.9% (from 1,054 to 1,063 euro/sq.m) and new ones were by 0.1% cheaper, from 1,059 to 1,058 euro/sq.m.
Timisoara is the only large town analysed where apartment prices dropped in September, by 0.4% from 1,134 to 1,129 euro/sq.m. Compared to the lowest market value of 776 euro/sq.m reached in October 2012, the present value is 45% higher, according to Imobiliare.ro. Early this Fall, old apartment prices went down by 0.2%, from 1,132 to 1,130 euro/sq.m, while new ones depreciated by 1.4% (from 1,143 to 1,127 euro/sq.m.