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Real estate: Study: Apartments in old Bucharest buildings become more expensive while those in new buildings are cheaper
The average listing value for Bucharest apartments available for sale in May was of 1,056 euros/square meter, 2.3% more than in May 2014 (when it was 1,081 euros/sq.m), according to a study made by a specialised website.
Prices went up by 0.2% compared to April 2015
At national level, the average price of apartments for sale is 928 euros/sq.m, 0.2% less than in April (930 euros/sq.m) and 0.8% more than in the same period of the previous year (921 euros/sq.m).
In Bucharest, prices of apartments from old buildings continued to grow by 0.7% (from 1,024 to 1,031 euros/sq/m), while those in new buildings got cheaper by 0.4% (from 1,085 to 1,081 euros/sq.m) according to the Imobiliare.ro study.
In Brasov, average prices recorded a drop of 1.4% in May, from 867 to 855 euros/sq.m. The present value is 6.1% higher than a year ago (806 euros/sq.m). In the last 31 days apartments from old block of flats depreciated by 1.3% (from 856 to 845 euros/sq.m), while the new ones by 0.1% (from 913 to 912 euros/sq.m).
In Cluj Napoca the average sale price grew by 1% in May 2015, exceeding 1,000 euros/sq.m (1,012 euros/sq.m.). Over 12 months prices grew from 863 to 1,011 euros/sq.m.
In Constanta Imobiliare.ro reached the threshold of 900 euros/sq.m, 0.3% more than in April, when it was 897 euros/sq.m and by 4.2% more than in May 2014 (864 euros/sq.m). In May apartments built before 1990 became more expensive by 0.8% (from 888 to 895 euros/sq.m). At the same time new apartments knew a decline of 1.1%, from 921 to 911 euros/sq.m.
In Timisoara, the average price for apartments is 875 euros/sq.m, 0.5% under the price of April (879 euros) and 8.2% more than in May 2014 (809 euros/sq.m). In the last month, prices of old apartments went up by 0.9% (from 867 to 875 euros/sq.m) while newly built apartments became cheaper by 4.5% (from 920 to 879 euros).