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Real estate: Apartment price grows to 1,215 euro/sq.m in May, 1.5% more than in April

The average price for apartments sold in May at national level grew to 1,215 euro/sq.m, 1.5% over the level recorded in April , 1,197 euro/sq.m, according to an analysis made by a real estate website.

The growing tendency was registered in all big regional centres of the country, both in the old and new market. In May, Iasi exceeded the 1,000 euro/sq.m threshold for the average price of apartments, thus joining the other large towns, including Craiova, according to the analysis made by Imobiliare.ro.

In Bucharest, apartment prices grew by 1% last month, from 1,315 to 1,328 euro/sq.m. Increases were registered for both market segments analysed - old and new apartments. In the case of old apartments there was a plus of 0.7% (from 1,234 to 1,243 euro/sq.m), while the second had an advance of 1.2% (from 1,372 to 1,389 euro/sq.m).

In Brasov, prices showed a rise of 0.5%, from 1,043 to 1,048 euro/sq.m. Old apartments appreciated less, with 0.2% (from 1,044 to 1,046 euro/sq.m), while new apartments had an advance of 0.8% (from 1,046 to 1,054 euro/sq.m).

In Cluj Napoca, apartments for sale appreciated last month by 1.2%, to 1,523 euro/sq.m (against 1,505 euro/sq.m at end of April). Increases recorded in the two market segments analysed were not equal. Apartments in old buildings appreciated by 0.5% (from 1,552 to 1,559 euro/sq.m), while new apartments in residential ensembles grew by 2.2% (from 1,460 to 1,492 euro/sq.m).

In Constanta, apartment prices went up by 2.1% in May reaching an average of 1,147 euro/sq.m (against 1,23 euro/sq.m at end April). While old apartment prices appreciated by 2% (from 1,122 to 1,145 euro/sq.m), while the new ones had an advance of 2.2% (from 1,127 to 1,152 euro/sq.m).

In Iasi, apartment prices recorded a 5% increase last month, exceeding 1,000 euro/sq.m. While an apartment in Iasi could be bought at an average price of 967 euro/sq.m in April, in May it cost 1,015 euro/sq.m. New apartment prices went up by 5.8% last month, from 973 to 1,029 euro/sq.m, while old apartments were more expensive by 2.8%, from 957 to 984 euro/sq.m.

In Timisoara, the sellers’ expectations went up by 1.6% last month, from 1,192 to 1,201 euro/sq.m. Apartments in old buildings were more expensive by 1.7% from 1,186 to 1,206 euro/sq.m. Those from new ensembles had an advance of 1.3%, from 1,169 in April to 1,184 euro/sq.m at end of May.