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Real estate : Southern Bucharest 67% cheaper for rentals than northern area
Rents in areas like Ferentari, Berceni or Giurgiului is up to 67% cheaper than in the northern part of the Capital in Baneasa, Herastrau or Floreasca, according to the report of Anunturiparticulari.ro. Statistics show a lower level of average rents requested by landlords. In July 2012, the lowest average rent levels were reached since 2007, with drops of over 40% compared to July 2007.
The biggest difference between the two areas is recorded for three room apartments. While in Berceni the average rent is 332 euro/month, in Floreasca landlords ask for 1,000 euro/month for the same kind of apartment. Tenants of two room apartments can pay up to 61% more in the north than in the south – 670 euro/month for an apartment in the Herastrau area compared to 258 euro in Berceni.
A difference of 65% is reached in the case of four room apartments. While in the south of the city landlords ask for an average rent of 383 euro/month, in Baneasa the rent is over 1,000 euro.
The smallest difference between the two areas of the Capital is 39% registered in the one room apartment segment. A tenant pays on the average a monthly rent of 196 euro in Giurgiului area, while in Baneasa a tenant pays about 320 euro.
The average rent requested by landlords for one-room apartments was 226 euro/month in July, on the drop by 1% compared to the same period of 2011. Despite the fact that students left Bucharest on holiday, the rent level is a little over 1% compared to June 2012.
In the case of two-room apartments, in July 2012, the rent is close to 320 euro, 2% lower than in July 2011.For three room apartments, the situation can be somewhat similar – stability compared to June 2012, but lower than in 2011. Landlords asked for 422 euro in July 2012 for the same type of apartment, almost the same as rent of 423 euro in June. There is a price variation of -5% over 12 months, from 446 euro.Rent for four room apartments grew considerably in July, getting close to the level registered in 2011. At the end of July 2012, rent was 663 euro/month, 5% higher than a month before, growing from 627 euro.