Property Websites Differ On Bucharest Apartment Price Trend

Real estate website AnunturiParticulari.ro Monday said in a report that the third edition of the "First Home" program pressured the asking prices, which led to a 1%-5% decrease in March compared to February.

According to the report, interest in home purchase is high at the moment, but this has not led to an increase in prices, but rather to a decrease. Anunturiparticulari.ro was launched in 2001 and it monitors real estate ads published by individuals in print media and online. The website's report refers solely to Bucharest.

It said the average price for a studio flat was EUR37.902 in March, down 1% on the month and down 12% on the year. Two-room apartments have an average price of EUR58,815, down 2% on the month and down 14% on the year.

The average price of three-room apartments dropped 3% on the month, to EUR81,365. Compared to March 2010, the price was 12% lower. Four-room apartment prices dropped 5% on the month and 15% on the year, to an average EUR101,000.

On the other hand, the real estate index posted by realty website imobiliare.ro points to an average 0.9% monthly increase in Bucharest apartment prices. Compared with March 2010, imobiliare.ro's index was down 13.9%.

"Prices registered a timid evolution in the seven cities we are analyzing, oscillating between -2.5% in Ploiesti and +1.3% in Barsov," said Adrian Erimescu, general manager of imobiliare.ro.

The index is computed daily and is based on the offers posted on the website in the past seven days. It analyzes 22,000 offers throughout the country, according to imobiliare.ro.

According to an analysis by MagazinulDeCase.ro, Bucharest home owners decreased prices by up to 17% in the first quarter of 2011 compared with the similar period a year before.

Thus, studio apartment prices dropped an average 15% in the first quarter of 2011, compared to the same interval of 2010, to EUR30,240, from EUR35,700.

Two-room flat prices dropped an average 17% on the year in the first quarter. The same percentage of decrease was registered by three-room apartments.

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