Asking prices for apartments in Romania were up 2.7% at the start of January compared to last month, to €1,551 per sqm, with Cluj-Napoca leading the growth trend, according to real estate platform Imobiliare.ro.
In Bucharest, prices were up 1.6% to €1,620 per sqm, while in Cluj-Napoca the prices rose by 2.6% to €2,105 per sqm.
Demand for newly built apartments in major cities had a share of 65% on the Imobiliare.ro platform. The development of new projects has been hindered by uncertainties regarding the permitting legislation and the increase in construction costs.
“Despite the double-digit advance recorded during 2021, the new year starts with the prospect of further increases in asking prices for apartments in Romania, at least in the new housing segment,” said Daniel Crainic, Marketing Director of Imobiliare.ro.
Asking prices in Brașov and Timișoara were up 1% to €1,459 per sqm and €1,378 per sqm, respectively. Home prices in Constanța were up 1.7% to €1,408 per sqm, while in Iași residential prices grew by 0.9% to €1,203.
