Average asking prices of new and old apartments in Romania fell by 0.2% in November compared to the previous month to €1,704 per sqm, with Constanța, Iași and Cluj-Napoca recording slight gains of prices, according to Imobiliare.ro.
Daniel Crainic, Marketing Director of Imobiliare.ro, pointed out that the residential market has performed in line with the company’s expectations.
“The market is still looking for a break-even point, which will most likely happen around the middle of next year as material prices and construction costs stabilize. The cost of financing remains a risk factor," said Crainic.
In Bucharest, asking prices of apartments were down 0.7% to €1,716 per sqm, while in Cluj-Napoca prices rose 0.6% to €2,415 per sqm compared to October 2022.
On the Brașov market, prices were down 0.1% to €1,621 per sqm and in Constanța prices rose by 0.6% to €1,428 per sqm. In Iași, asking prices for homes rose by 0.5% to €1,339 per sqm in November. At the same time, apartments in Timișoara recorded a 0.4% reduction of prices to €1,453 per sqm.
