Old apartment segment drags prices up in Romania's big cities

The average price requested by owners for the apartments put up for sale in Romania’s biggest cities, including Bucharest, rose by 1.5% in September compared to August and by 5.7% year-on-year. The increase was mainly supported by the old apartment segment, according to the platform imobiliare.ro. The average price for the new and old apartments in Bucharest, Brasov, Cluj-Napoca, Constanta, Iasi, and Timisoara reached EUR 964 per sqm in September, compared to EUR 950 at the end of August. In Bucharest, the apartment prices are about 3% higher compared to the prices recorded in the fall of 2014. The old apartments in the capital have an average price of EUR 1,030 per sqm, up by 0.4% compared to August. The price for the new apartments went down by 0.9% compared to the previous month, but increased by 0.3% year-on-year. editor@romania-insider.com