Prices for apartments in Bucharest dropped 2 times

Prices for apartments in Bucharest dropped 2 times

Asking prices for apartments in Bucharest have dropped by more than two times for the last six years, writes ee24.com citing imobiliare.ro. We are talking about the housing stock built before 1990, which is the basis of the Romanian market.

Prices for studios in Bucharest have dropped the most significantly: in March 2008 they were worth €82.1 thousand, while now - just €35.6 thousand. Prices for one-bedroom apartments fell by 55% and reached on average €55.2 thousand, for two-bedroom apartments - by 54% to €68.1 thousand.

Cost of square meter in apartments in Bucharest dropped by 54% and in April 2014 it reached €1,011 on the secondary market and €1,192 for the primary one. It is noteworthy that the provincial real estate markets in Romania showed less decline in prices. Apartments in Brasov fell in prices by 42-50%, in Timisoara - by 39-45%.