The apartments in Cluj-Napoca, north-western Romania, became the most expensive in Romania in August, surpassing the ones in Bucharest. This happened after their price went up by 11% in the last 12 months (August 2015 compared to August 2014).

The price of the apartments in Bucharest went up by only 0.9% in this period, recording the lowest advance of the bigger cities, according to the portal Imobiliare.ro. For example, the price for a two-room apartment with a 50-sqm area is EUR 3,900 higher in Cluj-Napoca compared to Bucharest.

Timisoara saw the highest annual growth rate, which amounted to 11.4%. Overall, the asking prices for apartments in Romania have increased by 4.7% compared to the average price of EUR 907 per sqm recorded one year earlier. The average asking price in Cluj-Napoca was EUR 1,103 per sqm at the end of August, compared to EUR 1,086 per sqm in Bucharest, and EUR 915 per sqm in Timisoara.

Imobiliare.ro, which is one of the biggest real estate portals in Romania, compiles these average prices based on the apartment sale classifieds published on the platform.

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editor@romania-insider.com