The average asking price for new and old apartments on sale in Romania increased by 4.7% in the first six months of 2015, according to real estate classifieds portal imobiliare.ro. Romania’s capital Bucharest is the only city where apartment prices decreased in the same period.

“According to imobiliare.ro data, the average asking price for apartments in Romania (new and old) increased by 4.7%, from EUR 891 per sqm in December 2014 to EUR 933 per sqm in June 2015,” according to the website’s representatives.

Prices went up in the first three months, then had slight declines in April and May, and increased again in June by about 0.5%.

Apartment prices in Bucharest, however, went down by 1.8%, from an average EUR 1,066 per sqm in December to EUR 1,047 per sqm in June. The decline was stronger for new apartments, whose prices went down by an average 7.2% (to EUR 1,063 per sqm) as opposed to old apartments which got more expensive by about 2.1% (to EUR 1,032 per sqm).

Cluj-Napoca, in Transylvania, saw the highest price increase, of 7.1%, to EUR 1,015 per sqm. In Constanta, average prices went up by 5.3%, to EUR 901 per sqm, and in Timisoara, prices increased by 4.7%, to EUR 887 per sqm. Apartments in Iasi sold in June for an average EUR 838 per sqm, up 3.5% compared to December 2014.

editor@romania-insider.com