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Real Estate: The real estate market in 2019: Cluj-Napoca had, again the biggest increase of price
The prices of apartments have continued in 2019 the upwards trend, but they have also started a slightly more abrupt one as compared to 2018. Cluj-Napoca had, again the biggest increases of price. The capital city was at a considerable distance behind, according to the data sent by the portal Imobiliare.ro.
At the end of December 2019, the average sum required for the apartments available for sale at national level (both old and new) reached 1,341 euro/sqmetre according to the indicator Imobiliare.ro.This value shows an increase of 1.6 % against the end of November, when such a unit could be acquired, on average, at 1,320 euro/useable sqm.
‘As compared to the similar period of the previous year, when the expectations of the sellers were at 1,239 euro/useable sqm, the level of valid price at the beginning of 2020 is 8.2% higher. What is important to mention is that, although the apartments appreciated more in 2019 than in 2018, the growth margin registered in the two previous years were higher than that – it is about an advance of almost 11% in 2017 and a plus of 10.4% in 2016, respectively’, the press release says.
In Bucharest, the expectations of the apartment sellers got to an average of 1,413 euro/useable sqm at the end of 2019, up by 1.9% against November ( when it was 1,387 euro/useable sqm).
Over the last 12 months, the apartments in the capital city had, as a whole, an advance of 5.8% (from 1,335 euro/useable sqm) in December 2018). The growing trend was supported especially by the residences in old buildings, which were appreciated by 9% along the year, from 1,232 to 1,343 euro/sqm. New apartments, on the other hand, got over the last month of the year at a level of 1,462 euro/sqm, which is an advance of 3.5% for 12 months, from 1,412 euro/sqm’ the press release says.
Cluj-Napoca in 2019 had, again the top as regards the increases of price among the big cities under analysis. ‘ Here, the Indicator Imobiliare.ro got to a value of 1,712 euro/sqm at the end of December, up by 0,2% against November (from 1,709 euro/sqm) and by 10.1% against the similar period of 2018 ( from 1,555 euro/sqm)’ the press release says.
The old apartments in the city got to a value of 1,739 euro/sqm, which is the equivalent of a plus of 9.2% at 12 months ( against a level of 1,593 euro/sqm at the end of 2018). The newly-built buildings had, during the same period, a more significant growth, 11.5% namely from 1,516 to 1,691 euro/sqm.
In Timisoara, the expectations of the apartment sellers increased by 0.3% in December against November 2019 (from 1,269 to 1,273 euro/sqm) while, at 12 months, the advance was 5.5% (from a value of 1,207 euro/sqm).
At an average price of 1,272 euro/sqm, the old apartments in the city are, at present, by 4,9% more expensive than 12 months ago ( when they cost 1,213 euro/sqm). The apartments in the new residential areas, on the other hand, appreciated over the last year by 7.5% from 1,187 to 1,276 euro/sqm’ the press release says.
In Brasov, the apartments cost, on average 1,178 euro/sqm at the end of December 2019, up by 1.7% against November (from 1,158 euro/sqm) and by 6.9% higher against the similar period of the previous year (when they were 1,102 euro/sqm).
‘The old units got to a value of listing of 1,144 euro/sqm, with an annual advance of 5.7% ( from 1,082 euro/sqm). The new residences, on the other hand, had an increase of 6.4% last year, from 1,155 to 1,229 euro/sqm’ the press release says.
In Constanta, the average sum required for an apartment has increased by 2.6% in December against November (from 1,179 to 1,210 euro/sqm) and by 8.3% over the last 12 months respectively (from 1,117 euro/sqm). Constanta is, the second in the annual ranking of growth of price valid for the big regional centres monitored constantly by Imobiliare.ro.
‘The old apartments in the city were at a level of price of 1,209 euro/sqm at the beginning of the year, up by 7.7% against the similar period of the previous year (when they cost 1,123 euro/sqm). The new residences in the city appreciated even more, namely 10.2% from 1,100 to 1,212 euro/sqm’ the press release says.
In Iasi, the new and old apartments had a growth of price of 0.6% over the last month of the previous year (from 1,031 to 1,037 euro/sqm); against December 2018 when the residences were traded at 1,010 euro/sqm, the advance was 2.7%.
‘Out of all the cities under analysis, Iasi is, the regional centre with the smallest annual margin of growth, being at the opposite end against Cluj-Napoca. In the city of the Northern-Eastern part of the country, the apartments in the old buildings were appreciated by 5.3% over the last 12 months (from 996 to 1,049 euro/sqm) while the newly-built residences had a growth of only 1,1% from 1,018 to 1,029 euro/sqm’ the press release says.