Apartments in Cluj-Napoca have the biggest sale prices in Romania, with owners asking for an average of €2,240 per sqm in the first quarter, which was up 21% compared to the same period of last year, shows a report by Imobiliare.ro platform.
Bucharest is also among the most expensive cities with prices gaining 12.2% in the last 12 months to €1,660 per sqm in Q1. Brașov is another residential market that gained steam in the past year and asking prices rose 19% in the past year up to €1,500 per sqm in Q1.
”The gradual recovery in demand towards the end of March as supply continues to fall (-14.9% vs. Q1 2021) and accelerating property prices create the conditions for a rapid market recovery, both on the demand side, and in terms of the number of transactions in the coming period,” said Andreea Popa, Senior Consultant Market 360.
On the rent market, Cluj-Napoca has the biggest prices of €8 per sqm, while in Bucharest they stand at €7.8 per sqm. The offer for rentable homes has fallen by 24% in the past year on the Imobiliare.ro platform, but the outlook for growth remains in place throughout 2022.
In Q1 there were 42,657 homes sold across Romania, up 7% compared to Q1 2021, according to data from the national lang agency ANCPI.
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