Old apartments market will fall like dominoes

Over the recent years, the high level of demand against offer has determined a constant increase in apartment prices, be they old or new. If the price growth in the residential ensembles announced in the market may be justified by a series of more or less objective factors, not the same can be said about the evolution of the prices in the old block apartments, which deteriorate with every passing year.

In the case of the latter, the successive waves of price hikes, not few times categorised as artificial, have only been the result of the regulatory mechanism of demand and offer. This is how, at present, the price per square metre of an old apartment has come to exceed its equivalent in a new apartment - thus, not in few cases the buyer finds he has to pay even 2000 euros/sq.m. when buying a 30 year old dwelling.

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