November 24, 2017

Bucharest house prices went down by as much as 57 % since 2008

Data released by local property website Imobiliare.ro reads that house prices have dropped all across Romania since 2008, with the highest decline reported in capital Bucharest. Newly built one-bedroom apartments reported a 57 % price drop between March 2008 and September 2013, followed by one-bedroom apartments on the secondary market (mostly properties built before 1990) where the drop amounted to 55 %. Over the same time period, the average price of Bucharest studio flats was down by 56 % for newly built units and 55 % on the secondary market. The lowest drop was recorded by two-bedroom apartments, though here too prices dropped by more than half between March 2008 and September 2013 – 52 % for new units and 53 % on the secondary market.

Source: Business-Review (read more)

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