Bucharest apartment prices fall by around 20,000 eurosPublish date: 01-12-2008
Three-room apartments in Bucharest have become 15 percent cheaper since the beginning of the year, with the average price per square metre of the homes built between 1980 and 1990 reaching 1,686 euros, the ZF real estate index reveals.
The ZF analysis shows that prices have dropped by 2 percent to 3 percent over the last six months, after stagnations and even slight increases earlier in the year. ZF analysed the prices asked by sellers on anuntul.ro website. The value at which the deal is actually closed may be lower by as much as 20 percent.
Whereas a seller would ask for an average of 140,000 euros for a 70-square metre three-room apartment in January, the price has reached 118,000 euros in November, which is more than 20,000 euros less. The sharpest monthly decline was registered in November, when the average price per square metre reached 1,686 euros, 5 percent lower than in October, according to the ZF analysis.
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