EnglishA.T.
In March, Bucharest"s real estate market was hit by a 20% drop of prices for old apartments. The market stagnated in April, according to "Colliers International", trying to take in the shock of the previous month. In May, average home prices experienced irregular price fluctuations in every district of Bucharest.
According to a press release sent to our newspaper, the BREI real estate index as calculated by "Colliers" for Bucharest homes reached 1355 Euros/sqm in May, down 1% over April. BREI-V (the index for old apartments) also dropped 1%, reaching 1131 Euros/sqm. BREI-N, the index for new apartments, lost 1%, dropping to EUR 1772/sqm. Prices in the 5th District dropped 4% in May over the month of April. Prices in the 4th District grew 5%, and 6th District prices dropped 2%. Prices in the 1st District grew 4%, whereas the 2nd and 3rd District posted a 4% and 2% drop, respectively.
"Colliers" says that the market will continue to fluctuate in the near future, without a clear trend. A stable trend will only begin taking shape in autumn, and only in the case of an overall stabilization of the economy.
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