The prices of new Bucharest apartments dropped in most of the cases below the level of EUR1,000/square meter constructed, but no lower than EUR800, the used apartment price level, and developers did not rush to build apartments at “crisis costs”.
Under the circumstances, with sales of one apartment per week or even month, a large part of real estate developers reduced their stock of unsold apartments, so that in nine projects of Bucharest, with a total of 3,800 apartments, less than 700 units are vacant, namely 20%, a ZF survey reveals.
Prices slightly top EUR1,000/square meter only in the greenfield projects Baneasa and Obor Towers.
(English version by Catalina Apostoiu. Editing by Loredana Fratila-Cristescu).