Brasov, the city with the biggest increases in the prices of old apartments – Stiri Brasov

Brașov remains the leader in increasing the prices of old apartments (+18%) vs. last year. The city of Sibiu again has the highest increase in the prices of new apartments (+16%) vs. last year. Constanța and Timisoara have the lowest price increases (+8%) for new and old apartments. The city of Bucharest has 13% higher prices compared to last year, according to a Storia analysis.

In March of this year, the prices of apartments for sale registered an increase of 11% compared to March of last year. The asking price per square meter for new apartments for sale increased by 13% in March 2024 vs. March 2023, while the price of old apartments increased by an average of 9%, according to the latest data from Storia, the real estate platform launched by OLX. In terms of the lifetime of property for sale ads on the site, it has decreased by 41% compared to March 2023 and by 29% compared to February 2024, showing that user interest is higher and properties it trades faster, according to the cited source. Concretely, the shorter the exposure time of the ads on the website, the faster the transaction speed of the properties mentioned in the real estate ads.

The evolution of prices in the largest cities in the country

Comparing the prices of new apartments for sale with those of old apartments in the 9 analyzed cities, the cities with the most ads on the platform, a number of differences are observed.

Thus, in Cluj-Napoca we find the smallest price difference between the two types of buildings (new vs. old), with a difference of less than 1% in favor of new apartments. Also, the biggest price difference is found in Brașov, where old apartments are 9% cheaper compared to new apartments. At the same time, the cities of Iasi and Sibiu remain the only ones where the prices of old apartments are higher than the prices of new apartments by 3% and 4%, respectively.

CLUJ-NAPOCA: In March this year, the average prices for new and old apartments in Cluj-Napoca were 2,651 euros/square meter. Also, the average asking price for a new apartment was 2,653 euros/square meter, 7% higher compared to March 2023. Old apartments in Cluj-Napoca had an average asking price of 2,649 euros/square meter, 12% higher than in the same month of the previous year.

IAșI: In March 2024, the average asking price for new and old apartments in Iași was 1,553 euros/square meter. Also, the prices of new apartments registered an average increase of 11% compared to the previous year, reaching 1,538 euros/square meter, while old apartments registered an increase of 13%, compared to March 2023, being 1,585 euros /square meter.

TIMIțOARA: In March of this year, the average asking price for new and old apartments in Timişoara was 1,557 euros/square meter. Also, the average price per square meter for new apartments for sale was 1,568 euros, 4% higher compared to the same month in 2023. An increase of 10% is observed for old apartments, reaching an average price of request of 1,552 euros/square meter.

BRASOV: In March of this year, the average asking price for new and old apartments in Brasov was 1,937 euros/square meter. Also, the average asking price for new apartments in Brașov reached 2,040 euros/square meter, 8% higher than in March 2023. However, the prices of old apartments increased rapidly, by 18% compared to the same month of the year past, reaching an average of 1,848 euros/square meter.

SIBIU: In March this year, the average asking price for new and old apartments in Sibiu was 1,532 euros/square meter. Also, the average asking price for new apartments increased by 16% in March this year compared to March 2023, reaching 1,498 euros/square meter. At the same time, prices for old homes increased by 8%, reaching 1,562 euros/square meter.

CONSTANTA: In March this year, the average asking price for new and old apartments in Constanța was 1,712 euros/square meter. Also, in March this year, new apartments had an asking price of 1,758 euros/square meter, 5% higher compared to the same month of the previous year. At the same time, old apartments had average asking prices 9% higher compared to March 2023, reaching a value of 1,673 euros/square meter.

ORADEA: In March of this year, the average asking price for new and old apartments in Oradea was 1,539 euros/square meter. Also, the average price per square meter for new apartments was €1,609 (up 10% in March 2024 vs. 2023). Average prices for old apartments increased, reaching an average asking price of 1,490 euros/square meter, a 13% increase compared to the same period last year.

CRAIOVA: In March this year, the average asking price for new and old apartments in Craiova was 1,585 euros/square meter. Also, the average asking price for new apartments was 1,598 euros/square meter (up 9% in March 2024 vs. 2023), while the asking price for old ones was 1,580 euros/square meter, 10% higher compared to the same month of the previous year.

“Analyzing the latest data, we found a firm trend of increasing interest in apartments for sale (+56%), outstripping the increase in interest in houses for sale (+32%). In parallel, we also noticed a reversal of direction in the rental market, with a decline in the increase in interest for rental apartments (-12%). These developments reflect not only the changing preferences of consumers, but also a different dynamic in the real estate market”, said Răzvan Ceapa, Head of Operations Storia & OLX Imobiliare.

How the prices of apartments for sale in the Capital evolved in March 2024

In Bucharest, the average price for the sale of new and old apartments in March 2024 was 1,799 euros/square meter. Also, the average price requested for the sale of a new apartment was, in March 2024, 1,824 euros/square meter, a price 15% higher compared to the same month of the previous year and 4% higher compared to February 2024 As for the old apartments, they had an asking price of 1,771 euros/square meter, 10% higher than in March last year and 2% higher than in February of the current year.

Source: cotidianul.ro

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