Thus, new apartments account for 59% of offers below EUR40,000, 46% of offers between EUR40,000 – 60,000, 41% of apartments between EUR60,000 – 80,000, 55% of apartments with prices between EUR80,000 and EUR100,000 and 69% of apartments of over EUR100,000.
This structure shows a radical change versus 2012, when new apartments accounted for 24% of the offers below EUR40,000, 19% of the offers between EUR40,000 – 60,000, 17% – between EUR60,000 – 80,000, 25% of the offers between EUR80,000 – 100,000 and 46% of the offers of over EUR100,000.
Thus, 57% of potential buyers with budgets below EUR40,000 are looking for new apartments (versus 30% in 2012), as well as 42% of buyers with budgets between EUR40,000 – EUR60,000 (vs. 24% in 2012 ), 39% of buyers with budgets of EUR60,000-80,000 (vs. 20%), 52% – EUR80,000-100,000 (vs. 32%), 64% – over EUR100,000 (vs. 48% in 2012).
”Despite increasing supply and demand for new apartments, the local residential market is facing an abnormal situation, due to the low price difference between the new and old residential segment,” according to Imobiliare.ro.
At the end of September, the prices of old apartments put up for sale across Romania stood at EUR1,062 per sqm, versus EUR1,201 per sqm for new apartments.