New price rises recorded in Bucharest
Property prices in Bucharest have risen during the first quarter, according to new figures released by Ziarul Financiar.
The body stated that the price per m² in the capital have shown an increase of 27%, based on advertisements in Romania's anuntul.ro publication, reports zf.ro.
Research took place on a number of flats that were produced between 1980 and 1990 and the price rises were recorded on these.
Moreover, the increase could also be seen at the very start of the year, with the average price going up by 4% since last December per m².
General manager of Romania Real Estate Agency Clara Nicoara said that there had been a marked increase in prices.
"Whereas a m² cost 1,300 euros (£877) in central areas in December, it has now reached 2,000 euros. At the same time, in the areas in the outskirts of the city, the price per m² has gone up from 600-700 euros to about 1,300 euros," she commented.
It was recently reported that the entrepreneur Florentin Banu is planning more developments in Romania.
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