The national average price for new and old apartments dropped to €975/ sqm, a 1.2 percent drop from June, and the largest price decline registered so far in 2012, according to imobiliare.ro.
Also, from the beginning of the real estate crisis until now has reached a new threshold, both in the country and in capital, says the imobiliare.ro portal.
Compared to the same period last year period, apartments nationwide are 5 percent cheaper.
In Bucharest the average price for new and old apartments reached €1.125 per sqm in July, down 0.6 percent from the previous month. That’s a 3.2 decline from the same period last year, making flats cheaper in the capital than they have been since 2008.
The downward trend is more pronounced in the secondary flat market, but new units are also suffering. The average asking price for new apartments in Bucharest hit €1,288/sqm in July, down 0.5 percent from June, and 4.6 percent lower than in July 2011.
