The price of rents are growing rapidly everywhere in Europe, but Bucharest and Cluj, are two cities in EU with the highest increases, according to the Social Monitor, a project of Friedrich Ebert Stiftung Romania. In Cluj, 2023 rents were 80% higher than in 2015, while in Bucharest the rise was 51% in the same period. Among cities included in the study, only in Berlin and Athens the average price increases for renting an apartment with one bedroom were higher. Data came from the data base of numbeo.com. In recent years there has been a massive acceleration of internal migration in all EU countries, mainly toward large cities. In order to make those movements sustainable from the economic point of view, newcomers must have sufficiently high incomes to cover living costs, including housing. In fact, even average incomes in cities grew considerably in the same period of time. In Bucharest, average incomes grew from 483 euros in 2015 to 956 euros in 2023, that is about 98%, while in Cluj those incomes went up from 421 euros in 2015 to 962 euros in 2023, that is about 128%. On the other hand, income growths in other European cities were lower. On the average, people living in Bucharest pay about 53% of their monthly incomes to rent a single room apartment in a central location, while in Cluj people pay 55% of their monthly incomes for the same kind of apartment. Of the cities studied, only Athens exceeds 50% of the average monthly income to rent an apartment with central location. On the other hand, in Sofia, rent for a central one-room apartment represents 42% of the average monthly income, in Berlin it is 41% and in Lyon about 38%. This change shows that in general, average incomes in Bucharest and Cluj went up slightly more than rents. This dynamics certainly shows the change of economic structure in those cities, while the average income inevitably hides a significant inequality. The good news is that , although people in Bucharest and Cluj spent in 2023 more than 50% of their incomes to rent one-room apartments in a central location, the percentage was dropping compared to previous years, when rents represented even 60% or 70% of average incomes in 2015.
Step into 2025 with music, excitement, and unforgettable performances! New Year’s Eve at JW Marriott Bucharest Grand Hotel is not just a celebration – it’s a grand spectacle where world-class entertainment, live music, and vibrant energy come together for a night to remember. This year, we’ve curated a sensational lineup of artists and performers to […]
The Bucharest Police recently announced that the city will host several commemorative ceremonies marking 35 years since the Romanian Revolution of December 1989, causing traffic restrictions around the city. The restrictions will be in place from Friday to Sunday, December 20-22, 2024. On Friday, December 20, at around 10:00 AM, a religious/military ceremony with wreath-laying […]
Alex Florența, the General Prosecutor of Romania, said on Friday, December 20, that harsher punishments are needed to combat incitement to violence and Legionnaire propaganda (related to Mișcarea Legionară, a Romanian interwar fascist movement) in public spaces effectively. To that end, the office of the General Prosecutor will propose new measures to combat such phenomena. However, […]
Dennis Lloyd, Inna, Damian & Brothers, and Killa Fonic are among the artists who will perform at Flight Festival 2025. The festival is scheduled to take place between June 20 and June 22 at Timișoara’s Banat Village Museum. For three days, the venue “will open its doors for an experience that combines music, nature, and […]
Around 67% of Romanians believe that the economic situation will worsen, 7% higher than the previous year, according to the EY Consumer Index Romania 2024. Findings suggest a challenging start of 2025 both economically and politically in Romania. Additionally, in 2024, more than half of respondents (59%) were extremely concerned about conflicts and external wars. […]
Polish LuxVet Group has acquired the Bucharest veterinary clinic RegalVet. The acquisition brings LuxVet’s local portfolio to five clinics and hospitals, one year after entering the local market. RegalVet Veterinary Clinic, which offers non-stop veterinary care, specializes in emergency veterinary medicine and surgery. The clinic employs ten qualified specialists, including veterinarians, technicians, and administrative staff. […]
