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Study:Rents for best areas in Bucharest went down
The dropping tendency of rents was more visible over October 2012-October 2013, for the best areas of the Capital, while prices requested for less interesting areas remained constant or even went up in places, according to a study made by Imobiliare.ro.
Single room apartments in 1 Mai area became cheaper by 7.1% to an average price of 260 euro/month. They were followed by the Dorobanti-Floreasca area with – 6.3% to 300 euro/month. Berceni is the only area in the low-cost category where prices dropped in the last 12 months. They had a decline of 4.3% to 220 euro/month.
The most significant increases were in areas with the lowest prices. Militari ranks first with +8.3% for single room apartments to 249 euro/month, followed by Drumul Taberei (+4.5%) and Titan (+4.3%).
For two-room apartments the areas 1 Mai and Mosilor rank first with a decline of 12.5% to an average price of 350 euro/month. A significant drop of 11.4% was recorded in Colentina, where rent reached 310 euro/month. A decline of 11.1% was registered in better areas like Vitan Nou, Cotroceni and Herestrau-Nordului, with an average of 370, 400 and 800 euro/month.
For rising prices Crangasi ranks first with +10% to 330 euro/month, followed by Dristor-Vitan Vechi, where prices went up by 6.1% to 350 euro/month. In Kiseleff-Aviatorilor area prices increased by 3.7% to 700 euro/month.
In the three-room segment, prices remained constant, drops being recorded in better quoted areas of Bucharest. The most significant price drop of 11.1% was in 13 Septembrie-Panduri area to 400 euro/month. In the Victoriei-Romana-Universitate area rents dropped by 10% to an average of 450 euro/month. An important decline of 7.1% was in Hereastrau-Nordului where the average price is 1,300 euro/month.
At the opposite pole, the biggest price rise was for three room apartments in Pantelimon where prices grew by 6.3% to 340 euro/month. They were followed by Vitan Nou area with 5.6% to 475 euro/month and Crangasi to +4.3% and 365 euro/month.
The Imobiliare.ro analysis takes into account the average price asked for apartments with one, two and three rooms in 18 Bucharest areas, between October 2012 and October 2013.