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Bucharest New Apartment Prices Down 51% On Year In November
A national index launched Wednesday by imobiliare.ro website shows that between November 2008 and November 2009 Bucharest apartment prices fell by an average 45%. Thus, the prices for apartments in new residential compounds in Bucharest fell 51% on average. For three-room apartments prices fell by 54.29%, for two-room apartments - by 49.57%, one-room apartments prices dropped 48.36%, while apartments with four rooms were priced 48.52% lower in November compared with the same month of 2008.
Compared with October, there was one exception: only two-room new apartment prices rose slightly, while the prices for the other types of apartments continued to fall.
For Bucharest old apartments, prices were down 44.8% on the year in November. Thus, three-room apartment prices fell 45.61%, while two-room apartment prices decreased by 41.35%. Compared with October, the prices for old apartments were up a mere 0.16% in the last month.
The most expensive areas in Bucharest are Unirea - EUR1,788 per square meter, Dorobanti - EUR1,756/sqm and Floreasca - EUR1.733/sqm, while the lowest prices can be found in Rahova - EUR1,078/square meter, Berceni - EUR1,118/sqm and Oltenitei -EUR1,127/sqm (by average prices).
The index was based on the prices in euros asked by the owner per usable square meter and do not include VAT.
Source: Mediafax
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