New homes in Bucharest, two times more expensive than in other cities

BUCHAREST | Prices of new apartments in major cities in Romania in recent years decreased by 26.5% -54% and, although the biggest adjustments took place in Bucharest, the capital housing in some cases reaching double the cost of other cities. An analysis of housing in the number of rooms shows that when studios recorded the biggest difference between Bucharest and Iasi, it was an amazing 50%.

Concluding, the cheapest studios are in Iasi, where the average price asked by developers is now 32324 euros. Buyers can find even cheaper offers at 30000 euros in Podu Ros or Nicolina areas. In most of the other cities analyzed, except for Timisoara and Bucharest, prices charged for a new studio flat are very close: 36089 euros in Cluj, Brasov 37276 euros, 38039 euros in Constanta. In Timisoara, the price usually goes higher than 40,000 euros, the average price asked for the same construction of new units in Bucharest is 48860 euros.
Studios in the capital city are those that have cheapened the most during the crisis, the average price asked for it now representing only 46% of the average price asked four years ago. A two bedroom flat costs in Cluj as much as a studio costs in Bucharest. These types of apartments have declined by a percentage between 34% to 53.5% in Timisoara and Bucharest. Cluj has the cheapest apartments with two rooms of all the big cities analyzed, with an average price of 49392 euros being required to buy one. In Brasov, new apartments with two bedrooms costs 52302 euros on average. Slightly more expensive are the houses in Iasi and Timisoara, with prices between 53000 and 54000 euros. In Constanta, a new two-room apartment costs about 57000 euros.

One thought on “New homes in Bucharest, two times more expensive than in other cities

  1. Pingback: Weekly news retrospective: June 11-17, 2012 | The Romanian News Blog

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