The Prices of Apartments Keep Decreasing In Romania

The prices of apartments keep decreasing in Romania. The most expensive apartments offered for sale are in Bucharest, followed by the ones from Cluj-Napoca City and Constanta City, but the prices are 50% smaller compared to the economic boom period.

The capital City of Romania, Bucharest, has the most expensive houses for sale, although here have been registered also the worst price decreases in the past six ears. The new studio flats from Bucharest got 56% cheaper, from 2,519 euro per square meter to 1,108 euro per square meter, while the old studio flats have cheapened by 55%, from 2,388 euro to 1,061 euro per square meter, according to the real estate website imobiliare.ro, who calculates a monthly index of property prices.

Over the past 6 years, the two-bedroom apartments from Bucharest have registered Read more

Apartment Prices Down by up to 60% Since 2008

After six years of crises and with the prices decreased by half almost all over the country, the old apartments continue to represent the largest share in the residential sales, according to an analysis based on the offers available on the market in Bucharest and in another five large cities of Romania. By far, the most significant decreases of apartment prices have been registered in Bucharest, where the old apartments are about 50% cheaper Read more

The Crisis Cheapened the Houses by Over 40%

The prices of houses have decreased on national level by 2% in the first quarter of this year compared to the first quarter of 2013, and compared to the same period of 2012, the decline reached at 0.6%, according to the real estate index made by Eurobank Property Services (EPS), subsidiary of Eurobank group, the majority shareholder of Bancpost bank. “Since the peak moment of the real estate market, registered in the second quarter of 2008, the residential prices on national level have registered annual average decreases of 8.5%, cumulating an overall decrease of 41%, and the current prices are at the same level from the second and third quarters of the year 2006, right before the start of the real estate bubble”, note the analysts from Eurobank. On the outskirts of Bucharest was registered a decrease of 2.3%, above the national average level, while the prices in the north of Bucharest have increased by 2% compared to the previous quarter and by 5.6% year-on-year. In the rest of the country, the largest price increases have been registered in the cities of Ploiesti, Brasov, Constanta and Galati, while steep decreases have been registered in Braila, Oradea and Craiova.

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