ZF English

Three-room apartments are 25% cheaper

20.01.2009, 17:06 12

Bucharest apartment prices are 25% lower compared with January last year, with the average price per square metre for three-room apartments built between 1980 and 1990 amounting to 1,523 euros, according to the ZF index, which considers sellers' prices, as posted on the anuntul.ro ad website. The decline recorded in the last year has been felt in most areas of Bucharest, with prices currently being around 30,000-euro lower than a year ago. However, the actual decline in RON is smaller, given the depreciation of the Romanian currency. For instance, a seller's price for an apartment in the Berceni area is 30% lower in euros against January 2008, but the price in RON is 20% lower. Real estate market representatives say the decline recorded in 2008 has to do with the tightening of lending norms and with the international crisis.
 

 

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