Overall, apartment prices in Timisoara dropped 1.2% in May 17-23 to €907/sqm, the lowest value since the onset of the financial crisis, according to the study that takes into account the cities: Bucharest, Brasov, Cluj-Napoca, Constanta, Iasi and Timisoara.
“With a 1.1% drop in one week only, Timisoara is by far the city with the most affordable new-apartment prices of all the cities under review: €932/sqm versus €964/sqm in Cluj-Napoca, €1,003/sqm in Constanta, €1,011/sqm in Iasi, €1,070/sqm in Brasov and €1,451/sqm in Bucharest”, according to imobiliare.ro.
As for old-apartment prices, although Timisoara has witnessed the biggest decline in the past week of 1.3%, the current level of €901/sqm remains above rates found in Iasi, where for a square meter, homeowners ask €887/sqm.
With €939/sqm average price, Brasov stands below the psychological barrier of €1,000.
In Cluj-Napoca and Constanta, old-apartment prices differ slightly: €1.032/sqm and €1,038/sqm respectively.
With €1,252/sqm, Bucharest has the most expensive offer for old apartments as well.
The majority shareholder of imobiliare.ro is Broadhurst Investment LTD administered in Romania by New Century Holdings (NCH).
Top cheapest cities to live in
With a 1.1% price drop in the last week only, Timisoara takes the top spot in the list of cheapest cities in the country by new-apartment prices, with €932/sqm, according to a study conducted by imobiliare.ro.
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