House, Villa Prices In Romania Dropped 42% Since 2008 - Survey

In Bucharest, the average price dropped 19.2% on the year in December, to EUR1,412 per sqm. Compared with 2008, the average price was 42.4% lower this year.

In Ilfov county, the average price of houses and villas dropped 12% on the year, to EUR811 per sqm, and was 39% lower than in 2008.

Compared with 2008, the price of Timisoara villas were down 27.4% in December, at EUR979 per sqm, which was 12.2% lower than in December 2009.

In the city of Constanta, the average price reached EUR1,092 per sqm, while throughout the county the average price dropped 21.5% on the year, to EUR633/sqm.

The cheapest houses and villas can be found in northeastern Romania, Iasi county, where owners ask for EUR700 per sqm, down 24% on the year, and 37.1% lower than in 2008.

The imobiliare.ro analysis includes the price evolution between December 2008 and December 2010 of houses and villas built after 2005 in Bucharest and the main counties.

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