For the vast majority of Bucharest residents the purchase of anew apartment remains an almost impossible mission, consideringthat for projects within the city limits, studio prices start fromaround 60,000 euros, shows a ZF analysis.
In other words, unless you make at least 600 euros a month, itis almost impossible to afford an around 350-euro instalment for a57,000-euro loan through the First home scheme, through which onecan buy a studio in Bucureştii Noi or Obor.
According to the latest data from the National StatisticsInstitute, the average net salary in Bucharest is 1,864 lei (440euros), which could barely cover the monthly instalment for astudio in an old block on the outskirts of Bucharest. How much donew apartments cost now?
For instance real estate consultancy Real Time has apartments forsale in seven new housing complexes in Bucharest, with the cheapestone being a studio whose starting price is 57,000 euros, VATincluded, in the Armonia project of the Titan district.
In the Metropolis Residence project in the Bucureştii Noi area,studio prices start from 62,000 euros plus VAT, i.e. slightly over65,000 euros VAT included, while in the Obor Towers complex nearthe 2nd district's city hall, studio prices start from 63,800 eurosplus VAT. Obor studios cost as much as a two-room apartment inTitan's Optima complex.
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