Apartment prices in Romania, up 30% from post-crisis low

The average price for apartments put up for sale in Romania’s main cities increased by 1.9% in September compared to the previous month, reaching EUR 1,141 per sqm, according to the Imobiliare.ro portal, one of the biggest platforms for real estate classifieds. The average price rose by 30.5% compared to December 2014, when average apartment prices reached EUR 891 per sqm, a record low in Romania. The statistics are based on sale offers placed on the Imobiliare.ro website. Apartment prices in Bucharest reached an average value of EUR 1,254 per sqm in September, up 0.3% over August. They rose by 21% compared to February 2015, when the market reached a record low after the crisis. In Cluj-Napoca, the average apartment price increased to EUR 1,455 per sqm in September, up 78% compared to the post-crisis low in January 2014, when prices were only EUR 818 per sqm. Compared to August, the average apartment price went up by 2%. The Cluj market is in danger of overheating, according to Imobiliare.ro. Timisoara is the only large city in Romania where apartment prices dropped in September compared to the previous month. They went down by 0.4% to EUR 1,129 per sqm in September. Apartment prices in Timisoara rose by 45% compared to October 2012, when the market reached its lowest value after the crisis. editor@romania-insider.com