Romanian rents see year-over-year increase

Big city rental asking prices increased 13 percent year-on-year (June 2024 vs. June 2023), while month-on-month asking prices (June 2024 vs. May 2024) remained relatively similar.

"The real estate market in the rental segment is currently going through a period of effervescence as the rental season begins. This period is closely related to the beginning of the academic year, when students start looking for housing. Universities in big cities attract thousands of students every year, which leads to a significant increase in demand in the rental segment and, implicitly, to an increase in prices. Despite this growth trend, Romania has among the most affordable prices in the European Union, according to Eurostat data," says Răzvan Ceapă, Head of Operations Storia & OLX Imobiliare.

In June 2024, the average rent prices in Bucharest increased the most (+16 percent) in the category of studios, where the average rental price was EUR 354/month. Also, the average price for renting two-room apartments was EUR 541 in June 2024, 10 percent higher than in June 2023. At the same time, the average price for renting three-room apartments in the Capital increased by 13 percent from one year to another, with an average value of EUR 752.

As in recent months, sector 1 of the Capital is still the most expensive sector in Bucharest, with apartments for rent at an average price of EUR 731, while sector 4 remains the cheapest sector in June 2024 as well , with an average price of EUR 460.

Source: Profit.ro