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Real estate: Study: Cheaper apartments in Bucharest, more expensive in Brasov, Cluj Napoca or Timisoara
The latest Imobiliare.ro study, presented on Friday, shows that apartments are cheaper in Bucharest, but continue to grow in regional centres.
In Bucharest, demands of apartment sellers dropped by 1.2% last months, from 1,318 to 1,302 euros/square meter. Drops were recorded on both market segments analysed; apartments in old apartment buildings depreciated less, by 0.6% (from 1,239 to 1,231 euro/sq.m) while newly built units recorded a decline of 2% over a month (,1374 to 1,346 euro/sq.m).
In Brasov, Imobiliare.ro registered a drop last month. Apartments on sale were 0.8% cheaper, from 1,071 to 1,062 euro/sq.m. In this case, old buildings recorded a smaller drop, of 0.5%, from 1,059 to 1.054 euro/sq.m. New apartments depreciated by 1.7%, from 1,104 to 1,085 euro/sq.m.
In Cluj Napoca, the expectations of apartment sellers grew by 0.9% in August, reaching an average of 1,525 euro/sq.m. (compared to 1,511 euro/sq.m in July). Old apartments appreciated by 1% (from 1,551 to 1,566 euro/sq.m), while new ones recorded an advance of 1.5% (from 1,461 to 1,483 euro/sq.m), which led to the narrowing of differences between the two market segments.
In Constanta, apartment prices recorded a slightly growing tendency in August - an advance of 0.2%, from 1,139 to 1,141 euro.sq.m. The two market segments analysed had different evolutions: while apartments in old buildings appreciated by0.4% (from 1,133 to 1,138 euro/sq.m), those from new residential units were cheaper by 0.5% (from 1,156 to 1,150 euro/sq.m).
In Iasi, there was an increase of the average price requested by apartment sellers. In August the apartment owners’ demands went up by 2.9%, from 1,016 to 1,045 euro/sq.m. Although both market segments had increases in the analysed period, variations were different: old apartment prices went up by 0.9% (from 1,010 to 1,019 euro/sq.m), while prices of new apartments went up by 4% (from 1,019 to 1,059 euro/sq.m).
In Timisoara there was a slight increase of the average price requested by sellers, a plus of 0.3%, from 1,200 to 1,204 euro/sq.m. The growing tendency was backed by housing units within new residential ensembles, which had an advance of 1.9%, from 1,184 to 1,206 euro/sq.m. Old apartments depreciated slightly by 0.2%, from 1,206 to 1,203 euro/sq.m., according to the study.
Launched in January 2000, Imobiliare.ro is the first and most accessed real estate website in Romania. The site has recently exceeded 1,620,000 visitors/month and includes the largest offer base from all real estate categories at national level.