In the first quarter, asking prices grew by 4% on average, and in the second quarter last year, prices registered an average growth of 3%. Housing prices have been on a constant growth path in the past three years.
At EUR1,330/sqm, Cluj-Napoca has the highest average asking prices, a 4.9% growth in the second quarter, followed by Bucharest with EUR1,240/sqm and 3.4% growth in the second quarter.
Following 4% growth in the second quarter and 8.3% growth in the past year, asking prices in Constanta reached an average of EUR1,020/sqm, while apartment prices in Brasov and Iasi posted the lowest growth in the second quarter and in the past year, standing at EUR950/sqm and EUR920/sqm, respectively.
In Timisoara, asking prices for housing grew 3.5% in the second quarter, reaching an average of EUR1,080/sqm.
According to the head of the association of property assessors in Romania, Daniel Manate, developers should pay attention to large cities like Bucharest, Cluj, Timisoara, and Brasov.
“A recent study by the Word Bank shows approximately 3.6 million Romanians plan to move house in the next five years and 66.5% of them seek to move to a Romanian city, of which the aforementioned four are the most attractive. The 2017 First Home program, generously funded by the government, only supports price growth for residential property,” he said.