Apartment Prices In Romania's Main Cities +2.5% MM In Jan - Survey

The sale price of apartments in Romania’s seven largest cities increased by up to 2.5% on the month in January, as owners’ optimism was fueled by the rising interest of potential buyers, according to a survey of property website imobiliare.ro.

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However, according to imobiliare.ro, the average price of apartments countrywide reached EUR1,031 per square meter in January, down 0.2% on the month.

Compared with January 2010, when the average price was of EUR1,213/sqm, apartments are now 15% cheaper.

Countrywide, the highest price growths were registered in Constanta- 2.4%, Timisoara - 1.5% and Brasov - 1.3%, said Adrian Erimescu, the general manager of imobiliare.ro.

In January, Romania's capital city Bucharest recorded an average sale price of EUR1,157/sqm for both old and new apartments, up 0.3% from December, but 12.5% lower from the same month a year earlier.

The average sale price for apartments in the central city of Brasov was at EUR881/sqm in January, up 1.3% on the month. Compared with January 2010, the current price in Brasov is 6.7% lower, the survey says.

imobiliare.ro's housing index for the central city of Cluj-Napoca fell 0.8% in January, after a slight increase in December. The average price of EUR985/sqm for both old and new flats in Cluj-Napoca in January was only 0.9% lower from the same month of 2010.

Constanta, southeastern Romania, is the city with the most optimistic flat owners countrywide, as housing prices recorded the highest increase in January. The average price of old and new flats in Constanta rose 2.4% on the month. Compared with January 2010, the average sale price in Constanta fell 10.6%, the survey reads.

After 11 months of decreases, the old and new apartments in the western city of Timisoara recorded a 1.8% price increase in January. However, when compared with January 2010, the apartments' sale prices are down 16.2%.

For the northeastern city of Iasi, imobiliare.ro index shows an average price of EUR850/sqm for both old and new apartments, down 0.9% from December, and 7.8% lower from January 2010.

The average sale price in the southern city of Ploiesti was at EUR879/sqm in January, up 0.3% from December, but down 14% from the first month of 2010.

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