Wednesday, July 30, 2008

Price of flats in Bucharest continues to fall

The prices of flats in Bucharest fell by 5% from January through to July this year, as a result of the reduction of prices especially over the last two months, the ZF index reveals. The price a of three-room flat in the capital, built between 1980 and 1990, went down by 3% on average in July, after the average price per square metre reached 1,920 euros, compared with 1,976 euros in June, according to the real estate index put together by ZF based on sale prices displayed on website. "Prices continue to go down, and as far as deals are concerned, they are at 25% of what they were at the beginning of the year," said Gabriel Dragomir, senior broker of real estate agency Indoors Real Estate Group. June and July were the first months in the last few years when asking prices went down, according to the ZF research. Asking prices can be as much as 20% higher than those at which deals are actually struck.



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