The Romanian residential market was stable in May after home prices fell by an average of 2.4% countrywide in April, from EUR953 to EUR935 per square meter. In May, prices fell in four of the six large cities analyzed by imobiliare.ro.
Home prices fell 4.2% over the past year in Constanta and Ploiesti to EUR868/sqm and EUR801/sqm, respectively.
In Bucharest, apartment prices fell 3.9% over the past year to EUR1,096/sqm from EUR1,140/sqm.
Homeowners in Brasov reduced prices by 1.8% to EUR833/sqm from EUR848/sqm and apartment prices in Timisoara fell only 1% to EUR786/sqm from EUR794/sqm.
Only Cluj-Napoca has registered an increase in home prices in the last year, of 0.3%, to EUR940/sqm from EUR937/sqm.