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Real estate: Study: Cluj apartments became the most expensive in the country
Apartments in Cluj Napoca became the most expensive in August, exceeding those in Bucharest, after an annual price increase of 11%, according to a study which shows that prices have been growing for three months at national level.
On the overall, the owners’ present demands are 4.7% higher than the price of 907 euros per square metre registered 12 months ago. Cluj exceeds Bucharest by 0.5% and 1.2% in June and July, Imobiliare.ro showing an advance of 0.6% in August, from 944 to 950 euros/sq.m. There are segments which showed price drops in the last month.
Bucharest apartments were more expensive in August by 0.8% from 1,077 to 1.086 euros/sq.m. Following the 2.9% advance in July, Bucharest became one of the cities with positive price differences every 12 months.
In the last 31 days, old apartments slightly depreciated by 0.5% from 1,031 to 1,026 euros/sq.m.
Newly built houses have continued the growing tendency of the previous month, but at a lower rate of 0.8% (against 5.8% in July), from 1,125 to 1,134 euros/sq.m.
In Brasov prices grew by 0.8% from 868 to 875 euros.sq.m. The present value is by 7.4% higher than the similar period of 2014 (815 euros/sq.m) while new house sellers dropped their demands by 0.6% (from 900 to 895 euros/sq/m).
In Cluj Napoca the Imobiliare.ro index reached 1,103 euros/sq.m. at the end of August, at a difference of 2.7% against the previous month (when it was 1,074 euros/sq.m) and 11.1% compared to the level of 12 months ago (993 euros/sq.m.). Old apartments were 2.7% more expensive in the last 31 days (from 1,092 to 1,121 euros/sq.m) and the new ones knew an advance of 2.8% (from 1,048 to 1,077 euros/sq.m.
In opposition to the tendency at national level, sellers’ demands in Constanta dropped by 1,1% in August, from 905 to 895 euros/sq.m, the difference against the previous year being 4.8%. Apartments in old block of flats were 0.7% cheaper last month (from 895 to 889 euros/sq.m.) and the new ones knew a more accentuated decline - 2.2% (from 930 to 910 euros/sq.m).
In Timisoara, the average price requested by apartment sellers is now 915 euros/sq.m, 1.8% over the value reached at the end of July (899 euros/sq.m) and by 11.4% over the one registered 12 months ago (821 euros/sq.m.) and the new ones by 2.8% (from 918 to 944 euros/sq.m).
In Iasi houses were 3.4% cheaper in August, from 887 euros/sq.m. The present value of 857 euros/sq.m is 7.3% higher than the one valid 12 months ago (799 euros/sq.m). In the old apartment segment there was an advance of 0.5% (from 802 to 806 euros/sq.m.), while newly built houses depreciated by 4.9% in the last month, from 954 to 907/sq.m.
Imobiliare.ro portal was launched in January 2000 and includes offers from all categories of real estate at national level.