Romanian Housing Prices Down 10% In Jan ‘09-Sep '10

Romanian house and apartment prices dropped some 10% between January 2009 and September 2010, according to data released by the national statistics institute INS.

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In the third quarter of 2010, housing prices were down 7% from the same interval of the previous year. Compared with the second quarter of 2010, prices fell 4% in the third quarter, the last period for which the statistics institute has published data.

Urban prices had reached the lowest level seen in two years, after dropping a total 12% since the beginning of 2009. In rural areas, housing prices dropped some 11% in the same timeframe.

For apartments, prices fell by more than 9% over the past two years. In the third quarter of 2010, apartment prices in Bucharest dropped by some 2%, while prices outside Bucharest were down by an average 6%.

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