The analysis, which tracks five Romanian cities, also shows that in January 2013, the average price of new and old apartments in Romania reached EUR968 per square meter, down 1% from December 2012 and down 3.1% from EUR999 per sqm in January 2012.
On the segment of studio flats, southeastern city of Constanta saw the biggest drop in prices, of 14.3%, in the analyzed period (January 2012 -January 2013). The price of a studio flat currently reaches EUR844 per sqm, compared to EUR985 per sqm in January 2012.
The price of studio flats in old buildings in Bucharest fell 5.2% in the mentioned period. Northwestern city of Cluj-Napoca witnessed a 2.2% decline, from EUR1,020 to EUR998 per sqm, while Timisoara, in the western part of Romania, is the city with the lowest price decrease rate.
On the segment of two-room apartments, Constanta also ranks first in terms of price drop, with a price decrease margin of 7.3%, from EUR920 to EUR853 per sqm, in the past 12 months.
Timisoara places second with two-room apartments 6.7% cheaper than last year, namely, EUR774 per sqm from EUR830 per sqm a year ago. In Bucharest, a two-room apartment costs an average EUR1,049 per sqm, down 6.3% from EUR1,120 per sqm a year ago. Central city of Brasov saw a 4% decline from EUR885 to EUR850 per sqm.
Bucharest ranks first in terms of price decreases for three-room apartments, with a 5.1% price drop, from EUR1,051 to EUR997 per sqm.
In Timisoara, prices for three-room apartments fell 4.7% in the past 12 months, from EUR792 to EUR755 per sqm.
In Constanta, prices of three-room apartments are 3.9% lower than in January 2012, namely, EUR869 per sqm from EUR904 per sqm.
Cluj-Napoca saw a 2.1% decline in prices of three-room apartments in the past 12 months, from EUR963 per sqm to EUR943 per sqm.
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