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Apartment prices soared; increases of up to 78 pc in 3 years

In September, the average amount required for the apartments put up for sale nationally – both new and old – increased by 1.9 percent, from EUR 1,141 per square meter at end-August to EUR 1,163 per square meter, according to Imobiliare.ro study, capital.ro informs.

According to Imobiliare.ro index, the current price is 30.5 percent above the lowest value since the beginning of the crisis, namely EUR 891 per square meter (in December 2014).

The most significant advance from the bottom of the market took place in Cluj-Napoca – thus highlighting once again the idea that this market is in danger of overheating, the current value being almost 78 percent higher than the lowest point reached in January 2014, respectively EUR 818 per square meter. Last month, the dwellings in the old blocks of this city appreciated by 3.3 percent (from EUR 1,459 to EUR 1,507 per square meter) and the new ones by 0.8 percent (from EUR 1,379 to EUR 1,390 per meter square).

In Bucharest, claims of apartment sellers increased overall by 0.3 percent in the last month, from EUR 1,250 to EUR 1,254 per square meter. In September, old dwellings appreciated by 1.6 percent (from EUR 1,154 to EUR 1,173 per square meter), and the new ones by 0.3 percent (from EUR 1,315 to EUR 1,319 per square meter).

In Brasov, the Imobiliare.ro index recorded, cumulatively, an advance of 2.8 percemt in September, from EUR 952 to EUR 979 per square meter. In the past month, old apartments rose 1.7 percent, from EUR 966 to EUR 982 per square meter. However, the newly built dwellings recorded a monthly advance of 5.2 percent, from EUR 924 to EUR 972 per square meter. However, they are 0.3 percent cheaper than 12 months ago (when reaching EUR 975 per square meter).

in Constanta, the average price required for new and old apartments available for sale increased 0.7 percent last month, from EUR 1,055 to EUR 1,062 per square meter. During the previous month, old houses have increased by 0.9 percent (from EUR 1,054 to EUR 1,063 per square meter), but the new ones dropped slightly by 0.1 percent (from EUR 1,059 to EUR 1,058 per square meter).

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