Bucharest Apartment Prices Fall 15% In 2010 - Survey

The sale prices of apartments in Romania’s capital city Bucharest dropped 15% in average in 2010, and will continue to fall next year, according to a survey conducted by real estate website imopedia.ro.

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"The price of apartments put up for sale in Bucharest fell this year due to the economic and social problems," Razvan Muntean, the general manager of imopedia.ro, said in a statement Tuesday.

The average sale price of a one-room flat in the center of Bucharest was at EUR59,500 in October-November period, compared with EUR66,000 at the beginning of the year.

The 3-room apartments in semi-central - eastern, southern and western - areas in Bucharest are put up for sale at prices below EUR70,000, the survey says.

"I think that 2011 will not bring any significant changes, and the prices will continue their downward trend," Muntean added.

Imopedia website has around 60,000 visitors per month.

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