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RealTime: Average price for new apartments drops to EUR 1,500/sq m

The average per square metre price for new apartments in Bucharest is about EUR 1,500 plus VAT, according to a survey of RealTime estate company, prepared in January-February 2009, Agerpres informs.

Over 60 per cent of all central developments are either completed or expected to be completed this year, and the price is calculated based on the quality of the construction or particularities of the area where the property is located and remains higher than the average price, addressing to upper-class or high-class customers. Most apartments in premium Bucharest locations (Victoriei, Universitate, Cismigiu, Cotroceni, Aviatorilor, Primaverii, Kiseleff) are sold at an average price around EUR 2,000 / sq m, smaller by approximately 20 per cent than in 2008 when the average price was ranging from EUR 2.300 to 2,500 / sq m. Most of the residential developments are in the northern region of Bucharest (approximately 40 projects still selling apartments) and the price is from EUR 900/ sq m (Bucurestii Noi, Sisesti) to about EUR 2,500/ sq m in a few exclusivist developments in Herastrau or Baneasa. The average price in the north is close to EUR 1,700 / sq m of construction. The supply of new homes in well-known residential districts such as Titan or Pantelimon (East) has diversified and grown over the past two years. According to RealTime, 15,762 dwellings are scheduled to be delivered in 2009, of which 4,000 in the North, 3,980 in the South, 5,276 in the East and 2,014 in the West. A total of 54,283 dwelling are to be delivered until 2012, of which 26,170 in the North.

Eurometropola: 40 pc more apartments to let in January 2009

The number of lettable apartments on the market was up 40 per cent in January 2009, with buyers being minded to purchase at ‘a crisis price' and willing to let go of ‘the area price' benchmark, reads a press release from EuroMetropola estate agency, Agerpres informs. ‘Either we talk about residential, industrial, land sales or even residential lease, office or shopping space, all customers are determined to bargain drastically and put in price offers that sometimes are even 70 per cent below the asking price', EuroMetropola consultants say. Because the waiting time from property listing to actual sale or rental is now much longer than it was in 2007-2008, constrained by other financial obligations, owners accept bargaining more easily these days, say the company representatives. ‘Under such conditions, it is no wonder that the number of apartments for rent grew by 40 per cent at the beginning of the year and that less people are willing to sell', EuroMetropola adds.

ESOP: office spaces in villas 25 pc cheaper than in new constructions

The office spaces in villas are 25 per cent cheaper than those from the new buildings, according to a study of ESOP real estate company, Agerpres informs. For a class B office space of 300 sq m, at a price of EUR 14/sq m, with minimum charges and utilities of EUR 5/sq m, five underground parking lots (EUR 80/lot), the rental which arises is EUR 6,100 plus VAT. In the case of a villa of 350 sq m, in the same area, the price of EUR 12/sq m, the charges and utilities are in average per year are of EUR 400/month, the parking lots are in the area, the total cost which arises is EUR 4,600, meaning 25 per cent less. "Most of the villa owners are natural persons, VAT is not added, thus the pressure on the cash flow falls 19 per cent," stresses Irina Petrescu, partner ESOP.

 

Sursa: http://www.nineoclock.ro

Tags: price apartments average realtime

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