Asking prices countrywide rose 4.7% compared with EUR907 per square meter 12 months ago, while Cluj outranked Bucharest in a top of the most expensive cities. Timisoara registered the fastest annual growth rate, of 11.4%.
After 0.5% price hike in June and 1.2% price increase in July, Imobiliare.ro index shows a 0.6% price increase in August, from EUR944 to EUR950/sqm – while certain segments registered price decreases in August.
“With an annual asking price increase of 11%, Cluj-Napoca apartments became the most expensive in the country. The price of an old 50 sqm two-room apartment (…) is higher by EUR3,900 in Cluj than in Bucharest. For a one-room apartment, the price difference reaches approximately EUR2,300, while for a 75 sqm three-room apartment, Cluj citizens pay EUR6,000 more than Bucharest citizens,” said Adrian Erimescu, Imobiliare.ro general manager.
In August, apartment prices in Bucharest rose an average 0.8% on the month, from EUR1,077 per square meter to EUR1,086/sqm, and 0.9% compared with August 2014.
Old apartment prices in Bucharest fell 0.5% on the month in August (from EUR1,031/sqm to EUR1,026/sqm). On the other hand, new apartment prices rose 0.8% on the month in August, to EUR1,134/sqm.
In Brasov, apartment prices rose 0.8% in August, to EUR875/sqm, from EUR868/sqm in July, and 7.4% on the year (EUR815/sqm). The average price for old apartments rose 1% to EUR871/sqm, while new apartment prices decreased by 0.6% to EUR895 /sqm.
The average price in Cluj Napoca rose 2.7% on the month in August to EUR1,103/sqm, and 11.1% on the year (EUR994/sqm in August 2014). On the old apartment segment, prices rose 2.7% in August, to EUR1,121/sqm, while new apartments cost 2.8% more, namely EUR1,077/sqm.
On the other hand, prices for apartments on sale in Constanta fell 1.1% in August, to EUR895/sqm), and 4.8% on the year. Prices of old apartments saw a slight decrease, of 0.7%, to EUR889/sqm, while the prices of new apartments fell 2.2% to EUR910/sqm.
Apartment prices in Timisoara increased by 1.8% on the month in August, to EUR915/sqm) and by 11.4% on the year (EUR821/sqm in August 2014). The prices of old apartments rose 1.7%, from EUR894/sqm to EUR909/sqm, while new apartment prices rose 2.8% to EUR944/sqm.
In Iasi, apartment prices fell 3.4% in August, from EUR887/sqm to EUR857/sqm and 7.3% on the year (EUR799/sqm). The average price for old apartments rose 0.5% to EUR806/sqm, while new apartment prices fell 4.9% to EUR907 /sqm.