In March, apartment prices in Bucharest rose an average 2.1% on the month, from EUR1,034 per square meter to EUR1,056/sqm. In March 2014, the price was EUR1,078/sqm (the difference of 2% came exclusively from the segment of new apartments, whose price fell 8.3%).
Old apartment prices in Bucharest rose 1% on the month in March (from EUR1,004/sqm to EUR1,014/sqm). On the other hand, new apartment prices rose 3.4% on the month in March, to EUR1,101/sqm, after hitting the lowest value since 2008 in February, at EUR1,065/sqm.
Bucharest is the only of Romania’s main cities where prices are lower at the end of the first quarter, compared with the first three months of 2014.
In central city of Brasov, apartment prices rose 2.1% in March, to EUR864/sqm, from EUR846/sqm in February, and 5.1% on the year (EUR822/sqm). The average price for old apartments rose 2% to EUR852/sqm, while new apartment prices increased by 1.8% to EUR925 /sqm.
The average price in northwestern city of Cluj Napoca rose 3.3% on the month in March to EUR990/sqm, and 10.6% on the year (EUR895/sqm in March 2014). On the old apartment segment, prices rose 2.1% in March, to EUR1,052/sqm, while new apartments cost 4.3% more, namely EUR922/sqm.
Prices for apartments on sale in southeastern city of Constanta rose 0.8% on the Month in March, to EUR892 /sqm), and 5.1% on the year (EUR849/sqm in March 2014). Prices of old apartments saw a slight decrease, of 0.1%, to EUR877/sqm, while the prices of new apartments rose 2% to EUR925/sqm.
Apartment prices in the western city of Timisoara increased by 3.1% on the month in March, to EUR877/sqm) and by 7.7% on the year (EUR814/sqm in March 2014). The prices of old apartments rose 1.5% to EUR859/sqm, while new apartment prices rose a sharp 7.4% to EUR933/sqm.