Romanian apartment owners have lowered selling prices by 6.95 percent on average during January and August 2013, according to same source. By comparison, in 2012 prices dropped by 1.3 percent y-o-y and in 2011 by 4 percent y-o-y, says Imobiliare.ro.
The 6.95 percent drop meant that the average price dropped to EUR 910/sqm (both old and new apartments).
In Bucharest, selling prices decreased by 7.38 percent to a EUR 1,054/sqm average. Other cities which reported price drops include Brasov (-5 percent, EUR 814/sqm).
There were also cities where prices went up, albeit the increase was marginal. Price increases were reported in Timisoara (+2.16 percent, EUR 802/sqm), Constanta (+1.51 percent, EUR 869/sqm) and Cluj-Napoca (+0.89 percent, EUR 904/sqm). (source: business-review.eu)