Apartment prices fell by an average of 0.4% countrywide in the first half of 2012 and by 1.3% in the entire year.
Three of the six large cities analyzed by imobiliare.ro witnessed home price increases in the first half of the year. Cluj-Napoca leads the way with a 3.8% increase for both new and old apartments, from an average of EUR896/sqm in January to EUR930/sqm at the end of June.
New apartment prices in Cluj increased 7.4% in the analyzed interval from EUR825/sqm to EUR886/sqm, while old apartment prices rose only 1.1% from EUR966/sqm to EUR977/sqm.
In Timisoara (W), home prices climbed 1.5%. Homeowners asked 3.1% more for old apartments, from EUR769/sqm to EUR793/sqm. On the other hand, new apartment prices fell 4.6%, from EUR879/sqm to EUR838/sqm.
Home prices in Constanta rose 0.3% from EUR856/sqm to EUR859/sqm. New apartments were 2.1% more expensive and hit EUR882/sqm at the end of June.
The most significant home price decreases were registered in Bucharest, Ploiesti and Brasov.
Bucharest home prices fell 3.9% in the first half from EUR1,138/sqm in January to EUR1,093/sqm at the end of June. New apartments were 4.4% cheaper in the analyzed interval, with prices falling from EUR1,278/sqm to EUR1,222/sqm. Owners of old apartments reduced prices by 2.7% from EUR1,046/sqm toEUR1,018/sqm.
Home prices in Ploiesti dropped 3.8% in the first half of 2013, from EUR816/sqm to EUR785/sqm.
Average apartment prices in Brasov stood at EUR835/sqm at the end of June, down 2.6% from EUR857/sqm in January.