Bucharest apartment owners and developers dropped asking prices by 3.9 percent on average over the past 12 months. The average asking price was EUR 1,096/sqm this May, down from EUR 1,140 a year ago, says Imobiliare.ro. Owners of apartments built before 1990 lowered asking prices by 0.8 this May compared to the previous month to a EUR 1,030/sqm average. Newly built apartments were on average 0.6 percent cheaper, decreasing to EUR 1,215/sqm.

The largest price drops over the past 12 months was reported in Constanta and Ploiesti were asking prices were 4.2 percent cheaper this May (y-o-y). The average price was EUR 868/sqm  in Constanta while in Ploiesti it reached EUR 801/sqm.

Price decreases were also reported in Brasov (-1.8 percent, EUR 833/sqm), Timisoara (-1 percent, EUR 786/sqm) while Cluj-Napoca reported a modest increase (+0.3 percent, EUR 940/sqm). (source: business-review.eu)