Even if the year 2020 is influenced by the coronavirus pandemic, the real estate market in Romania has not suffered. House prices are growing steadily, while the number of transactions is growing compared to 2019.
Cluj-Napoca continues to record the highest average prices / sq m for the purchase of homes. Whether we are talking about new or old constructions, apartments for sale Cluj dominate the ranking. One of the few chapters in which the real estate market has declined this year is the issuance of building permits for new buildings. Between January and September 2020, 26,323 building permits were issued for residential buildings, down 7.1% from the corresponding period of the previous year, according to the National Institute of Statistics.
However, in October, apartments for sale in over 750 new residential complexes were available in Romania. Almost half of them are found in and around Bucharest. Even though the houses have been put up for sale, not all the complexes are put into use. The works on a good part of them are to be completed only during the year 2021.
According to a statistic made by the real estate site Korter.ro, the average price for new homes available in Cluj, in October, it is 1,304 euro / sqm, increasing by 19 euro compared to the previous month. Regarding two-room apartments, the average price is 73,000 euros, while 3-room apartments have an average price of 102,500 euros.
The following places are ranked Iași and Timișoara, with an average price of 1,193 euro / sqm - increasing by 103 euro / sqm compared to September, respectively 1,183 euro / sqm - with an increase of 75 euro / sqm compared to September.
The largest increase in prices from one month to another is recorded in Iasi and Craiova. In the two cities the prices increased by over 100 euro / sqm. Thus, in Iași the prices reached 1,193 from 1,090, while in Craiova at 1,168, from 1,052.
Instead, in Bucharest, the average price of new homes for sale is 1,097 euro / sqm.
In terms of the number of transactions, Cluj ranks 3rd, after Bucharest and Ilfov. According to the data of the National Agency for Cadastre and Real Estate Advertising, until October, 23,669 properties were traded in Cluj, increasing by 2,656 compared to the similar period of 2019. Bucharest is in first place with 70,552 properties traded, followed by Ilfov with 36,820 homes. In both areas the number of concluded contracts is increasing compared to the previous year, with 4,105 in the capital and 2,831 in Ilfov. (source: economica.net)
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