Average price of apartments in Bucharest falls 3% m/m in July, study shows

The average price for an apartment in Bucharest went down 3 percent compared to the previous month, when it stood at 119,901 euros, according to a study of the real estate company MagazinulDeCase.ro

The number of old apartments for sale was 3,178 in July, down from 3,265 in the previous month. Compared to January, when the average value of an old flat was 133,628 euros, the price dropped approximately 13 percent in July.

The fall is determined by market seasonality, with points of maximum interest in February-March and September-November, and a slowdown in the rest of the year, the company's analysts explained.

Regarding the rental market, the average rent slipped 4 percent to 594 euros in July compared to the previous month, when it stood at 616 euros. 

The number of apartments for rent went up 4 percent to 1,855 in July, from 1,785 flats in June.

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