Apartment prices in big cities continue to rise and in some cases have reached record values, with year-on-year increases of 18% in Brasov, 11% in Bucharest, 10% in Cluj or 8.7% in Timisoara according to immobiliare.ro analysis.
In the case of new apartments, in the Capital, the prices were 16% higher in May 2024 compared to May 2023, with an average of EUR 1875/sqm.
The average value for apartments in Bucharest rose to a record of EUR 1,723/sqm, representing an annual advance of over 11%. A new maximum level was also reached in the segment of old apartments, of EUR 1705/sqm.
Cluj-Napoca remains the most expensive city in the country for buyers interested in an apartment. With an increase of 3% only in the last 30 days, the average price requested for new residential properties reached at the end of May the value of EUR 2,960/usable square meter. The annual growth rate for apartments for sale in this city has remained around 10% both for the overall average price and for the two main segments, new and old. The average asking price for old apartments is EUR 2735/sqm.
