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March 29, 2023

Residential market showing signs of recovery

According to a real estate monitoring report drafted by the website AnunturiParticulari.ro and released yesterday, after five years of dropping prices the residential market is showing signs of recovery with dealing prices going up by 0.87 percent in the first three months compared to the previous quarter and by 5.6 percent compared to the third quarter of 2012, according to the National Statistics Institute. ANCPI (the National Agency for Cadastre and Land Registration) has announced that the number of real estate transactions in the first seven months of 2013 has risen by 20 percent compared to the same period in 2012, reaching 462.743. The market’s recovery tendency was also noticeable where owners are concerned, who requested higher prices in August than in July for all categories of apartments, with the exception of four bedroom apartments, the real estate report states. The average price for a studio apartment has risen by 4 percent in the last month to EUR 33.800 compared to July 2013, when the amount requested by owners was EUR 32.613. In the last year, the average price for a studio apartment has been adjusted by 4 percent.
According to the results attained by AnunturiParticulari.ro based on all real estate offers published in the written media and on the Internet, the average price requested for a two bedroom apartment reached EUR 52.960 in August 2013. Prices for three bedroom apartments have gone up by 1 percent in the last month to EUR 71.122, as compared to EUR 70.355 in July 2013. Four bedroom apartment owners have cut back prices in the last month by 4.4 percent to EUR 89.422. In the last year, the average prices requested by owners for four bedroom apartments have decreased by 8 percent.

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