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

First Home Program, Price Benchmark for 80% of the Apartments Offer

Almost five years since it started, the First home program turned into a sort of benchmark on the real estate transactions market as the private owners are adapting their offer to the average value of the credits subsidized by the state. According to Imobiliare.ro real estate website, most of the clients accessing the website are interested in houses with a maximum price of 60,000 euro. Thus, 16% of the potential buyers are interested in houses that would cost no more than 20,000 euro, 24% have a budget of 20,000 to 40,000 euro and 26% have a budget of 40,000 to 60,000 euro. These price thresholds reflect in fact the limit of the value of First Home loans taken for buying apartments with one, two or three bedrooms. According to the study, 18% of the potential buyers are interested in houses with prices ranging from 60,000 euro to 80,000, while only 8% are looking houses of 80,000 to 100,000 euro.