Loading ...The price of new homes recorded in September 2008 the a decliner from a median price of 1,909 euro/ built square meter, VAT included, to 1,900 euro/square meter, according to the Bucharest Real Estate Index (BREI), drawn up by real estate consultancy firm Colliers International.
The decline is not significant (0.5%) but it contradicts the opinions according to which the price of new homes will not decline due to the high building costs. According to BREI, the price of new homes had been stagnated since May 2008.
The price of old homes in Bucharest fell more to a median level of 1,665 euro / square meter, down 5% against the previous month and by almost 12% against the start of the year.
The price of old homes in Bucharest fell more to a median level of 1,665 euro / square meter, down 5% against the previous month and by almost 12% against the start of the year.
According to Colliers, October does not seem to be more encouraging for the residential market.
With the coming into effect of the new norms of BNR and in an uncertain international context, the next month does not pose a growth potential in terms of the BREI index.
The local housing market is affected by the international financial problems, and thus, after rises of 30-50% in the past years, the first declines have been recorded this year.
With the coming into effect of the new norms of BNR and in an uncertain international context, the next month does not pose a growth potential in terms of the BREI index.
The local housing market is affected by the international financial problems, and thus, after rises of 30-50% in the past years, the first declines have been recorded this year.
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