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Real estate :Prices of flats in Bucharest reach a new minimum
At national level, the prices required for new and old flats increased slightly in March, but in Bucharest the trend was decreasing, the price of flats reaching a new minimum, from 1,145 eurom2 according to the site imobiliare.ro. The indicator of imobiliare.ro for Bucharest showed for March an average value of 1,145 eurom2 for new and old flats, dropping by 0.3% against the previous month.
“Thus it is reached a new minimum level for flats recorded at the level of Bucharest, from the beginning of the crisis. The trend to drop was felt only the segment of new flats, the average price for old flats being slightly increasing”, the representatives of imobiliare.ro say. The average price for new flats in Bucharest reached the value of 1,321 eurom2 dropping by 1.3% against February, when the average value of a m2 was 1,338 euro. By comparison to March 2011, the average price required for new flats in the capital city is by 0.7% lower.
March brought alterations of prices in the case of old flats in the capital city, but in a completely different way. The value of the indicator imobiliare.ro for this category of flats reached 1,073 eurom2 by 0.6% more than in previous month and by 2.5% less than during the same period of last year. The average value of the national indicator imobiliare.ro for March, 1003 eurom2 is by 17 eurom2 higher than in February, the indicator of the average price required for the flats in Romania surpassing the new threshold of 1,000 eurom2. Against the same month of the previous year, at national level, the prices of flats are at present by 3.8% lower.
“Over the last thirty days, the biggest drop in price was recorded in Ploiesti, and the highest increase in Cluj-Napoca. The prices of flats will have fluctuations this year, as they are very sensitve to economic signals, as well as political. Thus, the legislative amendments with impact on the economy or the adoption of measures which focus on the increase of populations’ income, as a reduction of CAS for example, will have an impact on the prices of residences” Adrian Erimescu, the general manager of imobiliare.ro said.
In Cluj Napoca, after a drop of 0.8% and 0.6% recorded over the first two months of the year, in March, the prices of flats increased by 0.6%. Thus the indicator imobiliare.ro for Cluj-Napoca for March has an average value of 940 eurom2. The present value is 5% lower than the one recorded 12 months ago, this being the biggest difference at the level of the city recorded in the country.
In Timisoara, March is the first month of this year when the average prices for flats went down. It is about a contraction of 1% the tone being given by the evolution of the new, according to the site. The value of the indicator imobiliare.ro recorded for the second month of the year, 813 eurom2 is only 1.9% lower than the one recorded 12 months before.