The real estate market in Romania continues to be a chimera for experts in the field. On the one hand, poverty has significantly reduced the number of mortgage transactions due to unpredictable interest rates and inflation. On the other hand, more homes have never been sold “with the money down”, a trend that keeps prices high.
The absurd increase in the purchase costs for housing in the big cities of Romania has led to an increase in the demand for rents and, implicitly, to an explosion of the costs associated with the rental activity. Thus, we reached the situation where, in May, in the large regional centers of the country, you pay between 220 euros and 300 euros per month to rent a studio apartment.
How much do rents cost in Romania?
A two-room apartment in Timișoara comes with a price of 350 euros per month, while in Cluj or Bucharest, you pay 460 euros for the same privilege. The latter value is all the more fascinating, as purchase prices in the Capital, not rent, are 35-40% lower than in Cluj. Beyond this aspect, the biggest price variations are recorded when renting three-room apartments, between 400 and 640 euros, depending on the area.
In the last year, in Bucharest, the biggest increase was recorded in the case of two-room apartments, a 10.5% increase. In Brașov, you pay 280 euros per month for a studio apartment, 400 euros for a two-room apartment and around 550 euros per month to rent a three-room apartment. From one year to the next, on the purchasing side, at Poalele Tâmpei, prices exploded with an increase of 14.8%.
In Cluj, the biggest jump was seen in the rental of three-room apartments, which increased by 15.5% from one year to the next. In Constanța, rents reach 263 euros for a studio, 400 euros for a two-room apartment and 550 euros per month for a three-room apartment. These values are felt in a market where studio apartments have risen in price by 20.3% in one year, when we talk about purchases, according to Imobiliare.ro, quoted by Profit.ro.