Prices of apartments for sale grew by 10 per cent

Prices of apartments for sale had a growing tendency at national level in quarter 4, 2015 compared to quarter 4, 2014, according to a study made by a real estate portal quoted by Act Media.

2016-01-07 14:43:25

The most significant annual growth rates of over 10 per cent, were in Cluj Napoca, Timisoara and Suceava, while prices went down only in Sibiu, Resita and Focsani. The national classification of the most expensive apartments is led by Cluj Napoca, Bucharest, Timisoara and Constanta, while Resita, Targoviste, Zalau and Satu Mare are at the opposite pole.

"In 2015 the residential trend was given by areas like Transylvania and Banat. After being surpassed by Cluj Napoca, the Capital city ranks second this year in the top of towns with the most expensive apartments. As for the top of the biggest price increases Bucharest is surpassed by Cluj Napoca and Timisoara, "says Adrian Erimescu, the general manager of Imobiliare.ro.

With a value of 1,094 Euro per sqmat the end of 2015, the average price asked by owners is by 4.9 per cent higher than in the similar period of 2014, when it was 1,043 Euro per sqm according to the study made by Imobiliare.ro. In this context, Bucharest is among towns with the smallest price increases in 2015. Compared to the peak moment of prices in Bucharest reached in March 2008, when an apartment cost an average of 2,264 Euro per sqm the present value is 51.7 per cent lower.

In the rental market, average prices reached in quarter 4, 2015, 220 euros/month for a one-room apartment, 300 euros/month for a two-room apartment, 350 euros/month for a three-room apartment and 550 euros/month for a four room apartment.

In the central area of the country, including the counties of Alba, Brasov, Harghita, Covasna, Sibiu and Mures, sale prices grew in county seats, except for Sibiu, where prices went down. Following an annual decline of 2.7 per cent, Sibiu apartments cost now 663 euros per sqm., compared to 682 Euro per sqm in 2014. This is the biggest price drop recorded at national level in 2015.

In the North-Eastern area, county seats like Suceava, Bacau and Piatra Neamt are included in the classification of the biggest prices increases in 2015, while Botosani and Iasi are among towns with the smallest growth rates.

In the North-Western area, Cluj Napoca ranks first in the top of towns with the most expensive apartments and in the top of the biggest price increases of the last 12 months. There prices went up by 13.6 per cent, from 978 Euro per sqm in 2014 to 1,111 Euro per sqm in 2015. Compared to April 2008 when prices recorded an average of 1,551 Euro per sqm the present value is 28 per cent smaller.


In the western area, Arad and Timisoara are among towns with the biggest price rises in 2015. Arad, the town which in 2014 ranked first in the top of price drops, is now among county seats with the most important price increases. After an advance of 7.2 per cent apartments can be bought with 536 Euro per sqmagainst 500 Euro per sqmin 2014.

Timisoara ranks second in the top of biggest price rises recorded in 2015 (after Cluj Napoca) and third in the top of towns with the most expensive apartments in the country. In quarter 4, 2015, the average amount asked by sellers reached 929 euros per sq.m, 12.7 per cent more than in the same period of 2014 when it was 824 euros per sq.m. Compared to June 2008, when an apartment cost 1,329 Euro per sqmvthe present value is 31 per cent lower, the study shows.