Apartments in Bucharest, twice as expensive than in other Romanian cities, despite residential pricing drop

In the last few years, apartment prices for the main cities from Romania decreased by 26. 5 percent to 54 percent, with some of the biggest drops recorded in Bucharest. Even so, the capital remains among the most expensive places, with apartment costs in some cases double compared to other big cities. Some of the most expensive apartments are in Brasov and Constanta, where the residential market is less developed, sending prices to EUR 85,452 and EUR 86,787 for a three-roomed apartment. Bucharest is the most expensive city for three-roomed apartments, with an average price over EUR 123,000, double compared to Iasi or Cluj, despite property in the capital becoming a 47 percent cheaper in recent years. The biggest difference in price for a studio apartment is between Bucharest and Iasi, - 50 percent, according to real estate listings website imobiliare.ro The analysis shows that the cheapest new studio apartment can be found in Iasi with a price of EUR 32,324 and even EUR 30,000 in the Nicolina or Podu Rosu areas, while in the other analyzed cities, except Timisoara and Bucharest, the prices for a studio apartment in Brasov, Cluj and Constanta are very close: EUR 37,276, EUR 36,089 and EUR 38,039 respectively. In Timisoara, the price for a studio apartment usually passes the EUR 40,000 mark, while the average price asked for new units with one room in Bucharest is EUR 48,860. As for the two bedrooms apartments in Cluj, they cost the same as a studio apartment in Bucharest, some EUR 49,300. Three-roomed units in Cluj are some EUR 68,000, while in Timisoara, around EUR 74,000. Ioana Toader, ioana.toader@romania-insider.com