Romania: Land prices drop by up to 40%

Right now, land prices in Romania’s capital, Bucharest, vary between 200 and 859 Euros per square meter in non-central neighborhoods. In the semicentral part prices lowered from approximately 2.500 Euro per square meter, the price recorded last year, to 1.300 Euros and even 800 Euros in some cases.

According to Vitali Ungureanu, real estate consultant for EuroMetropola, the reduced number of liquidities in Romania generated a 50 per cent drop in land market transactions this year, even if the price per square meter dropped 10% to 40%.

Prices in non-urban areas of Romania, like farmland is being sold at a price of 1.500 Euros per hectare in large plots of 80 to 1.000 hectares, and can reach 3 Euros per square meter in abutting areas of cities where economic development potential is high.