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Real Estate: The most expensive neighbourhoods of Romania

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The most expensive residences for purchase are in the central area of Cluj-Napoca  where the prices go over 1,530 euro/square metre, followed by those in the area centre-North of Bucharest (1,500 euro/sqm) and Timisoara (1,080 euro/sqm) according to an analysis published by Imobiliare.ro.

In Cluj-Napoca, the city with the highest level of  prices in Romania (1,330 euro/sqm), the most expensive apartments are in the central and supercentral area, where the prices go up to 1,530 euro/sqm, being at the difference of 70 euro per square metre against the next neighbourhood in the top, Plopilor (1,460 euro/sqm).The central area has the highest semesterial increases of 3.8% in Q1 of 2017 and 6% in  Q2 of 2017.

The most accessible residences can be found in Floresti (750 euro/sqm) and in Baciu (950 euro/sqm).Floresti had increases of the average price per square metre of 5.8% in Q1 and 5.6% in Q2

The most significant increases of price on the segment of apartments, in Q2 were in the central and supercentral area (+6%) as well as in the areas Buna Ziua, Europea, Calea Turzii (+5.1%). In Someseni was met, for the second semester in a row, a stagnation of the prices, while in Plopilor there was the lowest advance on the local market, 2.1% respectively.

In Bucharest,the neighbourhoods with the highest prices on the market of apartments are still the ones in the centre-north part where the prices are over 1,500 euro per square metre getting close to the threshold of 3,000 euro/sqm. Thus, a residence can be bought, on average, for 2,670 euro/sqm in Kiseleff and Aviatorilor with 2,390 euro/sqm in Herastrau and Nordului and for 2,050 euro/sqm in Dorobanti and Floreasca respectively.

In Bucharest there are still areas of up to 1,000 euro/sqm among which Ghencea (890 euro/sqm), Rahova (890 euro/sqm)Giulesti (940 euro/sqm) or Giurgiului (970 euro/sqm).

In the area Parcul Carol (Cantemir-Marasesti) the prices increased by 16.7%during three months, up to 1,620 euro/sqm. The increases of under 10% were recorded in Giurgiului (7.9%) Grivitei and Gara de Nord (6.6%) Dorobanti and Floreasca (6.2%) and Dristor together with Vitan Vechi (6.1%).

Some areas of the capital city had drops in prices in the analysed period - -3.1% in Cotroceni, -1% in Stefan cel Mare, -0.5% in Pipera and -0.4% in Ferdinand.

In Timisoare, although the price average at the level of the city in Q2 2017 is only 1,080 euro/sqm, none of the areas analysed  goes under the level of 1,000 euro/sqm. Although the areas Ultracentral, Medicina and Piata Unirii  had prices of 1,420 euro/sqm, they dropto 1,030 euro/sqm in Bucovina, Simion Barnutiu, Garii, Dorobantilor and Mircea cel Batran.

In the last three months, the prices of apartments went up by6.3% in Complex Studentesc, Dacia,Elisabetin and Olimpia-Stadion, second being an increase of 4.6% in Ultracentral-Medicina-Piata Unirii. The least (+1.1%) got more expensive even the most accessible residences, from Bucovina, Simion Barnutiu, Garii, Dorobantilor and Mircea cel Batran.

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