Apartment prices in Bucharest hit new records

The average price of apartments in Bucharest climbed by another EUR 200 on average in March 2019, or by 0.2% month-on-month, adding up to a EUR 3,900 (4.43%) annual advance compared to March last year, according to the ZF real estate index, compiled in collaboration with the consultancy firm Coldwell Banker based on data in the classifieds paper Anuntul Telefonic.

The annual growth rate was steeper in the past six months. Over the past year, the sharpest yearly growth rate was last June (+10% year-on-year).

The three-room apartments in central district Unirii are among the most expensive after they climbed by EUR 7,000 in March alone to an average of EUR 162,000, not far from the levels seen in 2018 before the real estate market collapse.

Unirii district has become much more expensive than Aviatiei and Victoriei, two districts where prices have been less volatile in the past years. Three-room apartments in Victoriei currently sell for EUR 116,000 while those in Aviatiei cost EUR 126,000.

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