Apartment prices increase by another 6% in October

The prices of old apartments in Bucharest increased by a further 6% in October – one of the largest monthly increases this year, shows ZF research based on ads published in Romania’s largest ad publication, Anuntul Telefonic. Monthly increases of 6% were only registered in the first few months of the year, when accession to the European Union fuelled real estate speculation. The ZF analysis considered three-room apartments, built between 1980 and 1990, which represent the most stable prices on the market.The average price per square metre reached 1,814 euros in October, with the research considering 25 of the most important areas of Bucharest. “Prices increased by about 15% in October, compared with September for old apartments. These are artificial prices, both for the old and for the new apartments, but the more buildings will be delivered, the slower the growth will become. The relaxation of lending conditions also contributed extensively to these rises,” said Laurentiu Munteanu, manager of real estate agency Activ Imob.