Prices of Bucharest apartments down by a further 11% in three months

Old three-room apartments in Bucharest have become 34% cheaper in the past year, costing 106,000 euros on average in March, according to the ZF real estate index. Since the beginning of this year, apartment prices have fallen 11%, to an average price of 1,370 euros per square metre. The biggest annual declines were recorded in the 1 Decembrie, Dristor, Militari and Brancoveanu areas, where

apartment prices were down by 45-48%. Over 40% declines have also been recorded in the Titan, Drumul Taberei, Crangasi, Oltenitei, Mihai Bravu and Berceni areas, according to the ZF real estate index. The index is put together based on sales ads for three-room apartments, published on the anuntul.ro ad website, and considers only 70-80 square-metre apartments built between 1980 and 1990. Declines have not spared Bucharest's central areas, either, although they have been less significant