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Bucharest Apartment Prices Unchanged On Month In April – Colliers

The average price of both old and new apartments in Romania’s capital city Bucharest was flat on the month in April, after the sharp depreciation in March, real estate consultancy firm Colliers International said Wednesday in its most recent price index.
Bucharest Apartment Prices Unchanged On Month In April - Colliers
13 mai 2009, 18:42, English

In 2009, the highest price depreciation on the Bucharest’s residential market was registered in March, when the old apartment prices fell by an average 15%, while the prices of new apartments remained unchanged.
 
In April, the districts in Bucharest registered slight oscillation of between – 1% and + 7%. Thus, the 1st District ranked first, with the average price growing up to EUR1,582 per square meter. The apartments in the 2nd and 3rd Districts registered a 3% price growth. Meanwhile, the prices of apartments situated in 4th and 6th Districts slightly decreased by 1%, according to Colliers analysts.
 
Compared with six months ago, all the districts in Bucharest suffered deep price falls, of between -16% and -40%.
 
In April, the average price of the new apartments in Bucharest remained unchanged at EUR1,784 per sqm, while the old apartments registered an average of EUR1,138 per sqm, according to Colliers.
 
Bucharest’s cheapest apartments are situated in the 6th District, where the average price per square meter is of EUR936. The 1st District has the most expensive old apartments in Bucharest, with an average price of EUR1,582 per sqm.
 
The prices per sqm refer to the built area of an apartment, including the terraces. The prices include the VAT.