Another Romanian city joins the top of real estate costs of over EUR 1,000/sqm

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Seven cities in Romania „boast” high prices for a square meter in an apartment, which exceed EUR 1,000.

The capital city of Moldavia, Iasi (eastern Romania) is the seventh city that joined the ranking, where the average cost of the apartments has exceeded the threshold of EUR 1,000/sqm, according to the latest statistics released by Imobiliare.ro on Thursday.

The other six cities are Bucharest, Cluj-Napoca, Timişoara, Constanţa, Braşov and Craiova.

The demands of the real estate retailers have continued to increase nationwide in May. So, the average sum required for the apartments for sale in Romania (both old and new apartments) has mounted to EUR 1,215/per square meter, by 1.5% more than at the end of April (EUR 1,197/sqm).

The upward trend has been felt in all big regional centers of the country, both on the old and new real estate market. In May, Iasi has succeeded in exceeding the EUR 1,000/sqm threshold as an average price for apartments, joining the other six cities,” says a press release. In Iasi, the average price required for an apartment has practically increased by 5 percent.

In Bucharest, the increase in May compared to April has been of only 1% higher, from EUR 1,315/sqm to EUR 1,328/sqm.

In Cluj-Napoca the apartments were more expensive by 1.2% in May than in the previous month (from EUR 1,505/sqm to EUR 1,523/sqm), while in Constanta the rise was by 2.1% (from EUR 1,123/sqm to EUR 1,147/sqm).

In Timisoara, the prices for apartments went up by 1.6%, from EUR 1,182/sqm to EUR 1,201/sqm, while in Brasov, the lowest increase was reported in May, by only 0.5%, from EUR 1,043/sqm to EUR 1,048/sqm.

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