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Real Estate: Prices for apartments went up by 4.7% in Romania, with the exception of the capital city
The average price required by the owners at national level for new and old apartments for sale increased in Q1 by 4.7% against December 2014 at 933 euro per square metre. Bucharest is the only city where residences got cheaper, according to imobiliare.ro.
‘In Q1 of the year, according to the Imobiliare.ro data, the average price at national level for new and old apartments for sale increased by 4.7% from 891 euro per square metre at the end of December 2014 at 933 euro per square metre at the end of June 2015. After three months of increases (January, February and March) and two of decreases (April and May) in June the prices increased by 0.5% from 928 euro per square metre. Against the middle of last year, when the Imobiliare indicator was situated at 904 euro per square metre, the presentvalue is almost 3% lower’ the site says.
Bucharest is the only city among the ones under analysis where apartments went down during the mentioned period – as compared to the average level of 1,066 euro per square metre reached in December 2014, the imobiliare.ro indicator had a decrease of 1.8% at 1,047 euro per square metre.In June there was a drop of 0.9%against the previous month. The decline of the last six months was supported by the sector of new residences,which were depreciated, on average by 7.2% at 1,063 euro per square metre.The apartments in the old buildings went up by 2.1% at 1,032 euro per square metre.
Cluj Napoca is situated the first in the ranking of high prices over the last six months, with an advance of 7.1% from 948 to 1,015 euro per square metre. In June, the Cluj owners increased their prices by 0.4%. The old residences went up by 5.9% at 1,083 euro per square metre and the new ones appreciated by 10.3% at 951 euro per square metre.
In Constanta, the apartments for sale ( new and old) had at six months an advance of 5.3% at 901 euro per square etre in Timisoara the increase was of 4.7% at 887 euro per square metre in Iai 0 3.5% at 838 euro/sqm and in Brasov of 2.9% at 865 euro/sqm.