Residential market changed in October

The real estate market from Romania has registered in October a slight increase, after three previous months of consecutive decrease, and the prices of apartments have increased in all large cities of Romania. Thus, the average value of the imobiliare.ro National Index for October 2012, of 984 euro/ square meter, is 2.2% larger than the one registered in September 2012 – the largest increase registered in the last four years. However, compared to the same period of last year, the apartments from Romania are 3.8% cheaper. 

Bucharest City
In Bucharest, the average price of new and old apartments has increased in October to the value of 1,131 euro/ useful square meter, 0.4% higher compared to the level registered in the previous month. However, compared to the same period of last year, the imobiliare.ro Index for Bucharest is showing an average price 4.2% smaller. The average price asked for new apartments from Bucharest has reached in October at 1,277 euro/ useful square meter, decreasing by 0.9% compared to September 2012. October brought price changes also on the old apartments segment from Bucharest. They are 0.4% more expensive, but with an average price of 1,054 euro/ useful square meter, they are 4.3% cheaper compared to October 2011.

Brasov City
Brasov is one of the cities that set the growth trend for the prices of apartments in this month. According to imobiliare.ro Index, the average price asked for apartments here in October reached at 855 euro/ useful square meter, 1.3% more compared to the previous month. Compared to the same period of last year, the current average prices are 0.4% higher. The average price asked for new apartments from Brasov has increased in October to the value of 942 euro/ useful sqm. The average price of old apartments from Brasov has reached to the value of 841 euro/ useful sqm, stagnating compared to September.

Cluj-Napoca City
The prices of apartments from Cluj-Napoca City also have increased in October, but at a smaller rate compared to September. This time, the growth rate was of 0.3%. The Index calculated for the apartments from Cluj-Napoca for October registered an average value of 924 euro/ sqm, the same as 12 months ago. The price of new apartments has increased by 2.9% to 837 euro/ sqm, while the price of old apartments has reached at 974 euro/ sqm, decreasing by 1% compared to October.

Constanta City
The prices of apartments for sale from Constanta City have increased slightly in the past 30 days. The Index calculated for this city in October reached at 873 euro/ sqm, 0.1% more compared to the previous month. The average price asked for new apartments has decreased by 0.6%, from 895 euro/ sqm to 890 euro/ sqm. Compared to October 2011, the prices of new apartments from Constanta are 4.3% smaller. The average price asked for old apartments from Constanta has increased by 0.2% in October, to 869 euro/ sqm. This value is 7% smaller compared to October 2011.

Timisoara City
The City of Timisoara is the only one from Romania where the prices of apartments got cheaper in October. The average value indicated by the imobiliare.ro Index here was 776 euro/ sqm, 0.5% smaller compared to September 2012. This is also the smallest value registered on the residential market from Timisoara since the start of the crisis until now. Compared to the same period of last year, the prices from Timisoara are 4% smaller.

Ploiesti City
In Ploiesti City, the Index points for October an average price of 827 euro/ sqm for all types of apartments. The average price here has increased by 0.2% compared to September, but the prices are 5.5% smaller compared to October 2011.

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