Apartment prices edge down in Romania - but not in first-tier cities
The country-wide average apartment prices in Romania dropped by 1.7%, to EUR 1,367 per square meter in April, after a 1.8% rise in the month before.
Still, this was not the case for the large cities like Bucharest, where the average apartment prices increased by 2% to EUR 1,395 per sqm in April after a significant 3.8% decline in March.
Online real estate platform Imobiliare.ro compiles this price index every month based on the average asking prices demanded by owners who put their apartments up for sale.
The owners' expectations increased in April in both market segments: the price of homes in old blocks of flats increased by 0.9%, to EUR 1,382 per sqm, while the newly built housing units recorded an advance of 2.5%, to EUR 1,451 per sqm.
In the most expensive major city, Cluj-Napoca, the average price of apartments increased by 1.5% to EUR 1,826 per sqm in April. The seaside town Constanta is the only large regional center where the price of apartments available for sale recorded a decrease last month: by 1.4% to EUR 1,229 per sqm.