Housing prices in Romania up by 7 pc. Which city posted the highest leap?
The housing prices have increased by 7 per cent in the first half of the year, with Cluj-Napoca posting the highest leap. The housing price in Cluj-Napoca has posted the highest rise in the country, 10 per cent, while the lowest rise was registered in Bucharest- 5.4 per cent, according to the Imobiliare.ro index.
After an advance of 0.5 pc in June, the average sum required for the apartments for sale nationwide (both old and new) was up by 6.7 per cent in the first half of 2017, mounting to EUR 1,120 /sqm (compared to EUR 1,050/sqm at the end of December 2016).
Overall, the new houses have been visibly more expensive than the old ones.
With a leap of 10 per cent, Transylvania’s capital Cluj-Napoca resumed its top place in the national ranking boasting the highest housing prices. Houses in Cluj have an average cost today of EUR 1,372 per square meter, as against EUR 1,247.sqm early this year and against EUR 1,349/sqm at the end of May.
Old apartments in Cluj were up by 9.6% in the first half of the year, while new apartments posted a 12.3% rise.
Iasi, eastern Romania, ranks second on housing price rises, posting a 9.6% increase (from EUR 854 to EUR 936 in the first six months of the year. Old apartments’prices were up by 5.9% in the first half of 2017, while the new ones by 13.8%, the highest leap on the new real estate market in the first semester.
In Timisoara, western Romania, the average price required for the apartments on sale has increased by 8.2% in the first six months of the year, from EUR 1,027 to EUR 1,111/sqm. Timisoara is the only city in Romania where the old houses have grown more expensive than the new ones in the first six months of the year: old houses are more expensive by 9.3% and the old ones by 4.4%.
In Constanta, southeastern Romania, on the Black Sea shore, the prices are up by 7.3 pc in the first half of 2017, from EUR 973 to EUR 1,044/sqm. Old apartments’ prices are up by 6.9%, while the new ones by 9.2%.
In Brasov, central Romania, the real estate index points to a 6.2% increase in the first semester, from EUR 900 to EUR 956/sqm. In the first six months of 2017, prices of old apartments have been up by 5% and the new ones by 9.4%.
Despite various trends registered on the old and new real estate market, the houses in Bucharest have maintained overall a constant price in June against May, EUR 1,203/sqm. Housing prices have registered a 5.4% increase in the first semester. Old apartments’ costs were higher by 5% and the new ones by 7%.