Rents for new apartments in Bucharest have increased

The asking rental prices for new apartments in Bucharest continued their upward trend in the third quarter of this year, compared to the same period last year. The increase recorded is 13 percent compared to the third quarter of last year and 7 percent compared to the previous quarter of this year. Thus, in this quarter, the average prices per useful sqm vary between EUR 7.5 for the cheapest segment of new homes and EUR 20 for homes in the luxury segment.

The areas with the cheapest rents in Bucharest registered the highest growth in the market compared to the previous year, namely 24 percent. The phenomenon is mainly caused by the decrease in the accessibility of credit for potential buyers of this market. The rent for this segment has an average value of EUR 7.5 per sqm (approximately EUR 340 for a two-room apartment with a usable area of 45 sqm). The areas considered are Ghencea, Militari and Rahova.