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Old Apartment Prices In Bucharest Dn Avg 13% In July Since January

Prices for old apartments in Romania’s capital city Bucharest decreased an average 13% since January, and the average price of an apartment reached some EUR117,000, according to real estate ad website MagazinulDeCase.ro.
Old Apartment Prices In Bucharest Dn Avg 13% In July Since January
06 aug. 2008, 14:33, English

"Compared to January 2008, when old apartments in Bucharest sold for an average EUR133,628, the average price decreased some 13% by end July. In July, prices decreased some 3% compared to June, when the average price stood at EUR119,900,” MagazinulDeCase.ro said in a statement.

The highest decrease in prices was registered for two-room apartments, which were down 7% in July from the average price of EUR122.600 in January, and down 3% compared to June, when the average price reached EUR117,100.

According to the study drawn up by the website, the number of old apartments in Bucharest put up for sale in July decreased some 3% compared to June, from 3,265 to 3,178, due to the market’s seasonal nature.

Launched end 2006, MagazinulDeCase is an online service promoting home property sale offers. In 2007, the website reported a turnover of some 300,000 lei (EUR1=RON3.4763) from fees charged for the listing of properties. The fees range from RON119 to RON450, and the website currently lists some 3,000 pieces of property.