Bucharest - the most expensive European capital regarding housing costs

Bucharest, Sofia and Warsaw are the most expensive capitals in Europe according to the average annual income of the population reported at housing costs, according to a study by market analysis company Polish Home Broker.

Thus, annual average wages in Romania, Bulgaria and Poland are enough for purchasing 1 to 2 square feet in a house situated in a central area.

In Romania, with an average annual salary in 2008 could buy only 1.4 square meters of housing 120 square meters located in downtown Bucharest, which costs 3484 euros per square meter.

Bulgarians could buy 1.7 square meters, at a price of 1,759 Euro / sqm.

By contrast, according to Home Broker, cities are Brussels, Berlin and Vienna, where the average annual salary is sufficient for acquisition of over 10 square meters.

Average price asked for new apartments in Bucharest in July reached at 1427 EUR / sqm of usable area and the old ones at 1179 euros / sqm.

According imobiliare.ro prices in euros requested by the home owners in Bucharest fell with the housing market crisis in March 2008, with almost 50% and the reported value in romanian LEI, the decrease reached 40%.