Apartment Prices In Romania's Largest 6 Cities Fall 1% In July - Survey

imobiliare.ro's national real estate index was at EUR1,151 per net square meter in July, down 6% from EUR1,225/sqm in the same month a year earlier, according to a survey released Tuesday.

The website publishes each month a real estate index tracking the price evolution of housing in the country's largest six cities, including capital Bucharest, based on the sale ads posted by homeowners on imobiliare.ro.

In Bucharest, imobiliare.ro's index indicated an average value of EUR1,245/sqm for new and old apartments, down 2.4% from June, and 6% lower from July 2009.

Apartments in Brasov, central Romania, saw the highest depreciation on the month in July, as the average sale price dropped 3.2%, to EUR907/sqm. Compared with July 2009, the average sale price in Brasov decreased by 3.6%.

In the northwestern city of Cluj-Napoca, apartment prices slightly rose month-to-month in July by 0.1%, to EUR1,023/sqm.

Housing prices in the southeastern city of Constanta were 1.4% lower on the month in July, at EUR1,007/sqm. Compared with July 2009, prices dropped by 6.4% on average.

In the northeastern city of Iasi, imobiliare.ro's index dropped 1.9% from June to July, to EUR899/sqm.

The average sale prices in the western city of Timisoara were at EUR851/sqm in July, down 2.6% from June, and 13% lower compared with July 2009. Thus, housing in Timisoara remains the cheapest among the cities analyzed by imobiliare.ro.

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