Old blocks of apartments in Bucharest have been the only solution this year for those who wished to move into a new home straight away. The prices of apartments in old blocks in Bucharest went up by 50% on average in 2007, with demand for such homes remaining high, say representatives of the real estate consulting firm Coldwell Banker Affiliates of Romania. "Demand remains high for the market of old blocks, with homes on this segment having a few significant advantages to the new ones: one can move into the new home straight away, and the apartments are located in easily accessible areas, where the infrastructure is already in place. That is why the average price increase has stood at 50%," say representatives of the consulting firm. The real estate analysis conducted by ZF shows that prices of homes built in the Capital in the 1980-1990 period have seen an approximately 50-60% increase this year, reaching around 1,800 euros / square metre. The number of new homes delivered onto the Bucharest market was extremely low this year, so transactions of this kind have been signed mainly for apartments in early stages of development.
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