Thursday, June 13, 2013

Real Estate Prices in Romania 2013

Surprisingly it seems that Cluj is the only Romanian city where housing prices have increased in the latest period, while in all the other cities prices have dropped or are more or less stagnating. This is at least what the the Romanian Real Estate Portal is reporting. The average price per built square meter in Bucharest is 1,100 EUR.

Cluj-Napoca is the only city where housing prices have increased in the last 12 months, provided that in Constanta, Ploiesti, Timisoara, Brasov and Bucharest developers/sellers have dropped prices by up to 4.2 %.Once in April asking prices for apartments across the country were down, registering a decline of 2.4% from 953-935 euros per square meter residential market in May was marked by stability. The nationally in May was recorded a slight appreciation of 0.3% up to 938 euros per square meter. However, the general trend in major cities of the country was, with two exceptions, at loss.

The first place among large cities by cheapening the residential segment recorded within 12 months is Constanta and Ploiesti, with decreases of 4.2% compared to 2012.In Constanta prices have fallen below 900 euros per square meter, and from 906-868 euros per square meter.In Bucharest, the claims of owners and developers fell by 3.9% in the 12 months to 1,096 euros per square meter, compared to 1,140 euros per square meter in the same period last year.The next place is Brasov, where prices requested by sellers and intermediaries are 1.8% lower compared to the end of May 2012. Under these conditions, the average price reached 833 euros per square meter to 848 euros per square meter last year.In Timisoara, housing prices have remained relatively stable over the past 12 months, with a margin of 1% decrease from 794-786 euros per square meter.The largest city in Transylvania, Cluj-Napoca is one of the analyzed where asking prices are now higher than in the same period last year - even if the difference is a low 0.3%. The average price in Cluj-Napoca is located at 940 euros per square meter to 937 euros per square meter in May 2012.

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