The real estate developers, as well as the owners who have put into the market completed homes after 2020, seem to leave behind the prudence with which they used to us after the previous presidential elections and now press the accelerator pedal, warns the experts.
The prices of new apartments have increased. Photo archive
Bucharest attracts, at the moment, all the eyes in the real estate sphere and not only, after the explosion of increases registered in the case of new apartments in the last month.
Increases also appeared in the case of other big cities in the country. In Brașov and Iasi, the new apartments were listed for sale with about 2% higher from one month to another. The prices moved slower, but continued to grow in Timisoara and Cluj-Napoca. The only big city in which this trend was not followed in the last month was Constanta.
“The elections inevitably bring uncertainty, but this context can generate opportunities for well -informed buyers. The real estate market in Romania remains active, and for those who look at medium and long term, it is a good time to purchase because the apartments are still accessible to the purchasing power. Of course, the advice that reduces the risk and are valid at any time: a careful analysis of the personal financial, developer and project are valid.“, Said Daniel Crainic, marketing director of Imobiliare.ro.
The most important trends:
• The increases in Bucharest propel the prices of the new apartments over the registered threshold before the presidential elections from the end of last year. The cumulative effect of lowering the offer on the new segment makes its presence felt on the old market and translates into substantial increases supported by buyers.
• Prices advance slower in Cluj-Napoca, but new apartments are sold with record amounts. The last month's increases are increasingly pushing the average over the threshold of 3,200 euros/sqm useful.
• A new 2-room apartment is sold over 20% cheaper in Brasov than in Cluj-Napoca. Buyers who make a real estate purchase today pay 15% more than those who took this step in the spring of last year.
• The new apartments in Constanța have been easily cheaper over the last month. The city is the fourth most expensive in the country for buyers who want a finalized home after 2020.
• Prices advance slowly in Timisoara. However, the new apartments are about 2,000 euros/sqm.
• Excess of at least 10% could also be observed in the secondary residential markets in the country. Craiova is highlighted not only with an average price that exceeds the one practiced in cities such as Iasi or Constanța, but also by an increase of 21% in a single year.
Bucharest, the biggest increases
The prices of the new apartments in Bucharest not only returned to the level before the period marked by the uncertainties arising against the background of the tense political situation generated by the presidential elections, but even exceeded this threshold.
The buyers faced, last month, in the capital with the highest increase in prices on this market segment. We discuss an advance with 6% compared to the beginning of spring. The new apartments have come to be put up for sale, according to the Imobiliare.ro index, with the amount of 2,173 euros/sqm useful and are also 18% more expensive than a year ago.
Even under these conditions, the new apartments in Bucharest are kept at a much lower price than those on the market in other big cities in the country. These are about 33% cheaper than those in Cluj-Napoca and 14% cheaper than those in Brasov.
The number of homes completed in the last five years is kept on a continuous downward slope. Only in the last month the offer has restricted by 7%.
The decreases in recent years in this segment are increasingly reflected in the price of the properties on the old market. Thus, the owners took advantage of the limited options with buyers, especially in the most desired areas in the city, and increased prices. In one year, the old apartments have increased by almost 20% in the capital.
Prices in Cluj, Brașov and Constanța
The new apartments in Cluj-Napoca have been put up for sale with an average price of 3,234 euros/sqm useful, according to the Imobiliare.ro index. It is no longer a surprise that on the local real estate market we find the most peppered prices, but there is good news for buyers – if in the capital the increases have reached 6% in the last month, in Cluj the advance was a much slower one, with only 1%.
Moreover, in the last year the new apartments have increased less than in other big cities in the country such as Brasov, Bucharest or Constanța.
Constant increases can also be observed in the case of the requested prices for the new apartments for sale in Brasov. The media has come to be around 2,537 euros/sqm useful, after an increase of 15% in a year.
Basically, for a 2-room apartment and a useful area of 42 square meters, buyers must expect to pay about 106,500 euros, with about 29,000 euros less than in Cluj-Napoca, but with 15,300 euros more than in the Capital.
The only big city in the country where we meet a slight recalibration of the requested prices for the new apartments is Constanta.
Even in this context, the homes completed during the last five years are sold in the city on the Black Sea bank with an average price that easily exceeds the threshold of 2,000 euros/sqm useful, this being the fourth most expensive city in the country, after Cluj-Napoca, Brașov and Bucharest.
Expensive and in Timisoara, Iași and Craiova
Timișoara: The slowest advance on the new residential segment has registered in the last year in Timisoara. If in cities such as Constanța or Brașov the prices increased by 15%-16%, in the case of apartments completed in the last five years in the city of Bega we are talking about a increase by only 3%.
However, Timișoara comes strongly and is only a few steps away from reaching the threshold of 2,000 euros/sqm. At the moment, however, the new apartments are sold, according to the Imobiliare.ro index, with an average price of 1,950 euros/sqm useful.
Even though in the last month the prices of the new apartments in Iași registered the second most significant advance, after the one related to the Bucharest market, they sell with much lower prices than in other big cities in the country. Even on some of the secondary residential markets, such as the one in Craiova or Sibiu, you will find homes completed in the last five more expensive years.
The average price requested in the largest city in Moldova has reached the value of 1,786 euros/sqm useful.
The capital of Oltenia strengthens its status as a real estate pole accelerated in the southwest area of the country, after the last year has brought a 21% increased prices for buyers for market apartments, regardless of their age.
In this case, the average price on the Craiovean market is located, at the moment, over the one registered in cities such as Iași, Constanța, Sibiu or Timisoara.
More temperate prices in Oradea, Sibiu and Ploiești
If last year Oradea managed to overcome Timișoara, currently the prices practiced by the owners and developers are slightly lower than those observed in the city of Bega.
The new and old apartments are listed for sale with an average price of 1,735 euros/sqm useful, according to the real estate index.ro. Basically, the villagers pay almost 20 euros in addition to the Timisoara for each square meter of the house.
The average price requested for the apartments in Sibiu reached the value of 1,735 euros/sqm useful, after an increase of 15% in the last year, the second most significant registered during this period of time among the secondary cities in the country.
Despite the increases, the apartments in Ploiești The city located only 60 kilometers from Bucharest remain much more accessible than those in Craiova, Oradea or Sibiu. The owners and developers bring them to the market with an average price of 1,267 euros/sqm useful.
