Bucharest Flat Prices Fell 12% In 10 Months – Survey

In Bucharest, prices for new flats dropped 9.5% since the beginning of the year, to EUR1,461 per sqm on average, while the asking prices for used flats fell 12.7%, to EUR1,268 per sqm.

Among the other residential markets surveyed by imobiliare.ro, the greatest decrease was registered in western Romanian city Timisoara, where prices were reduced by an average 19.2%, to EUR802 per sqm.

Constanta apartment prices fell 10.5% over the first ten months to sn average EUR950/sqm.

In Iasi, asking prices were at EUR876/sqm in October, from EUR927/sqm in December 2009.

Brasov flat owners are asking an average of EUR887/sqm compared with EUR950/sqm at the end of last year.

The smallest decrease in the average asking price, according to imobiliare.ro, was registered in Cluj-Napoca, from EUR1,046/sqm in December 2009 to EUR1,004/sqm in October 2010.

The average prices were calculated based on sale ads posted on the website.