The price of older apartments in Bucharest dropped 12 percent in the second quarter, compared to Q1 2008. The most significant decline in prices was registered for one-bedroom apartments, at 13 percent, according to representatives of MagazinulDeCase.ro real estate portal.
“The average price of an old apartment in Bucharest was €119,000 in the second quarter of 2008,” according to a MagazinulDeCase.ro press release. The price is similar to the level registered in December 2007.
According to the Bucharest Real Estate index, compiled by Colliers International real estate consulting company, the price of old Bucharest apartments has been shifting since the beginning of 2008, with a 5 percent monthly decrease in May. The new apartment index amounted to €1,909 per square meter, the same level as in April 2008, while that for old apartments dropped to €1,808 per sqm, from €1,892 per sqm in April. This is due to fewer transactions on the market in April and May.
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Source: http://www.standard.ro/articol_52403/one_bedroom_apartments_cheaper_in_q2.html
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3 comments:
Actually the buyers are having trouble getting new loans, even for more secure acquisitions, like real estate. On the other part, the sellers are getting more anxious to sell their appartments. It's a blooming new business, just look at the "imobiliare elephanto" website.
Wonderful blog & good post.Its really helpful for me, awaiting for more new post. Keep Blogging!
Bedroom Apartments
The one bedroom apartment are cheaper in Q2. the information that you have given us is very useful
Skies Miltonia
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