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Bucharest apartment prices continue to drop

de A.C.
Marţi, 8 iulie 2008, 21:08 English | Bucharest

Apartment prices in Bucharest continued their downward trend in June this year, dropping 6.2% as compared to May, according to a private report set up by, Romanian news agency NewsIn informs. The system supervises real estate ads published by private people both in newspapers and on the web. On Tuesday, real estate company Colliers International announced that apartment prices in Bucharest dropped by 1%. Both monitoring systems report that prices, even so, are higher than the ones registered in the same period last year.

Most apartments on sale in Bucharest are two room apartments which on average are sold with 114,000 euro, a 2,000 euro decrease as compared to May. Even so, apartments are still 34% more expensive than a year ago.

Colliers International data show significant price decreases in June this year. Their Bucharest Real Estate Index registered a value of 1834 euro/sq. meter, a 9 units drop as compared to its value in May.

Thus, despite the fact that prices decrease, apartments are still expensive. According to the real estate company, as compared to last year, apartments are 15% more expensive.

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