RSS
Real Estate : In May, average amount asked for new and old flats decreased by 1.4pct to 1,002 euros per sqm
The debt discharge law had effects on prices in May when, nationally, the average amount asked for new and old flats decreased by 1.4pct to 1,002 euros per sqm, compared to 1,016 euros per sqm at end-April, according to a survey.
The current level is by 8pct higher than that in the similar period of last year (928 euros /per sqm). Of the major cities analyzed, the largest price adjustment margin was recorded in Brasov, while in Bucharest and Cluj-Napoca, the market has not reacted yet to the recent legislative changes.
In Bucharest, according to the Imobiliare.ro survey, the prices asked by sellers increased by 0.4pct last month, from 1,121 euros to 1,126 euros per sqm, up by 6.6pct higher than the price at end-May 2015 - 1,056 euros per sqm. The average price for new flats has remained constant in the last 31 days (an average of 1,159 euros per sqm) and the homes in old blocks of flats went up by 0.7pct from 1,068 to 1,075 euros per sqm.
In Brasov, prices were down 0.9pct from 923 euros per sqm in April, from 915 euros per sqm in May, by 7pct more than in the similar period of last year, when they stood at 855 euros per sqm.
In Cluj-Napoca, the price asked by sellers rose by 0.9pct from 1,198 euros to 1,209 euros per sqm, which is a difference of 13.9pct over May 2015 (1,061 euros per sqm).
In Constanta, the average price of the apartments put up for sale remained relatively constant, at 956 euros per sqm (from 957 euros per sqm in the previous month).
In Iasi, the prices of apartments were down by 0.7pct in the last 31 days (from 889-883 euros per sqm), but are by 5.1pct more expensive than 12 months ago.
In Timisoara, prices recorded a drop of 0.7pct, thus having gone below the threshold of 1,000 euros per sqm of last month. The current value of 993 euros per sqm is by 13.5pct higher than that a year ago (875 euros per sqm).