Real estate: Prices for Bucharest old flats keep dropping

The average prices for the Bucharest old flats dropped by up to 3.5 percent in Aug. from July, except for the four-room - or three-bedroom - flats that cost by 6 percent more, shows a monthly monitoring report of advertising website AnunturiParticulari.ro.

The average price for a single-room flat in the Capital hit a little over 35,100 euros in Aug., by 2 percent less than in July and down 3 percent over the past 12 months from nearly 36,300 euros.

The two-room (or one-bedroom) flats, which enjoy most market offers and are also the most sought-after plunged in Aug. from the prior month and even more so from Aug. 2011. The owners of such flats currently ask for an average 55,000 euros for them, by 3.5 percent less from July. the 12-month variation is double at minus 7 percent, with a two-room flat selling for 59,100 euros at that time.

A three-room (or two-bedroom) flat had an average price of a little over 75,200 euros in Aug. in the Capital, slightly down as compared to July (less than 1 percent), but 3 percent less than in last Aug. or the equivalent of more than 3,000 euros.

The four-room flats are by 9 percent cheaper in this Aug. from the last, i..e from 106,600 euros to 97,560 euros or some 9,000 euros less; however, they are nearly 6,000 euros more expensive than in this July (91,820 euros).

The new offers on the market slightly dropped in Aug. According to AnunturiParticulari.ro, the old flat owners put 2,179 units up for sale in Aug.

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