Prices for Bucharest apartments, at 2007 levels

TRADUS DE COSMIN GHIDOVEANU
Ziarul BURSA #English Section / 8 aprilie 2009

A.T.

The real estate market survey for the month of March made by AnunturiParticulari.ro shows an overall downward trend for all types of apartments, regardless of location. Almost 2300 apartments were put up for sale in March, more than in February (1900 apartments), but far below the March 2008 numbers, when a record 4400 apartments were put up for sale. According to a press release sent to our editor"s office, the average prices are nearing March 2007 levels. The average price requested for a studio is now 50000 Euros, below March 2007 levels. The average asking prices are now 82000 Euros for two-room apartments, 112000 Euros for 3-room apartments and 148000 Euros for 4-room apartments, prices which are close to the 2007 levels. Amid the current financial crisis and without no clear recovery signs in sight, apartment buyers have become far more calculated and cautious, and homeowners which are anxious to sell are forced to do so at prices far below the average market price.

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