The price for luxury apartments in Bucharest is still one of the lowest in Europe. The average price is 2,400 euros per square meter in Bucharest, compared to the absolute "champion of expensive": Monaco's 24,000 euros per square meter, a study by Global Property Guide indicates.

Still, luxury apartments in Romania cost more than in Hungary and Poland, which have a much lower market.

The second most expensive place is London, where a square meter in downtown is 10,000 UK pounds - some 15,000 euros. London is followed by Paris and Amsterdam, where a 120 square meters apartment usually costs some 800,000 euros.

Moscow is the sixth most expensive in Europe, but cash transactions and laws that may change at any time make this market unattractive.