Prices of housing units down in August, according to BREI

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The Romanian capital reported in the last summer month decreases in the prices of housing units, excepting Bucharest’s 1 district, where they rose, according to Bucharest Real Estate Index (BREI) calculated by real estate company Colliers International.
August brought fewer deals and that reflected also in the development of prices in the real estate sector, reads a release. Owners of apartments decreased prices because of the low interest showed by customers, reads the release.
 
The real estate index monthly calculated by Coliers International, Bucharest Real Estate Index (BREI) stood at 1,802 euros per one square metre in August, down by 42 euros compared to the previous month. In Bucharest’s 2 district, the prices of old homes fell 9%. Bucharest’s 3 and 5 districts fell 6%, whereas 6 and 4 districts fell 1%. The only one that reported the second consecutive growth, reaching the level of 2,285 euros/sqm is 1 district with 2% compared to June and 13% as against six months ago.
 
The two components – new BREI and old BREI (customized index according to the categories of apartments – new or old), reacted differently this month, reads the release. New Bucharest Real Estate Index (BREI) maintained its value for the forth month in a row– 1,909 units – the biggest registered so far. Higher by some 201% as against the same period of the previous year, the value of old Bucharest Real Estate Index is, however, the lowest reported in 2008, by some 10% lower than in March.
 
Colliers International is, according to its own presentation, a global partnership between companies that provide real estate consultancy, having 250 offices in 51 countries and 9,300 staff. In Central and Eastern Europe, Colliers International provides services to Romania, Poland, the Czech Republic, Slovakia, Hungary, Russia, Ukraine, Bulgaria, Serbia and Montenegro.
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