Real Estate: Price of apartments sold in Romania has increased 13 times in last 25 years

 The price of apartments sold in Romania has risen 13 times in the last 25 years, and rents have not kept pace with the increase in these prices, according to a specialized analysis.In Bucharest, to become the owners of a two-bedroom apartment, buyers paid, on average, 25 years ago, the equivalent of about 20,600 EUR, according to estimates made by Imobiliare.ro, based on data on the residential market reported in the press by real estate agencies active in that period.In January 2025, a similar property can be bought for almost 99.600 EUR, equivalent to an increase of 383%."Given that Bucharest has the largest supply of housing available for sale, the price differences have remained significant all this time. At that time, a centrally-located two-room apartment cost four times as much as one on the outskirts. Nowadays, in the most expensive neighborhoods in the capital - Primaverii and Herastrau, the threshold of 3.000 EUR/sqm is exceeded. In the cheapest neighborhood, Ferentari, the average price requested by owners and developers barely exceeds 1.200 EUR/sqm," the report states.Rents in Bucharest have also risen sharply in the last 25 years, when two-bedroom apartments could be rented at prices starting at 80 USD/month, and now the average rent requested by owners has reached 550 EUR/month."If we take into account an average rent of 111 EUR/month in 2000, we can estimate a 395% increase in prices in the last 25 years, the highest recorded in this time frame in the country's major cities," note the real estate consultants.As for Cluj-Napoca, the increase in the average price of a two-bedroom apartment is of 741%, after 25 years, from about 18.900 EUR to 158.900 EUR.In terms of rents, the cheapest two-bedroom apartments were rented at the beginning of 2000 for 150 Deutsche Mark/month, while now the average budget needed to rent such a space is 550 EUR/month, 290% higher than in the reference period.According to the analysis, in Brasov, at the beginning of 2000, for a centrally located two-bedroom apartment, about 12,500 USD were paid, equivalent to about 12,070 EUR. At present, a similar apartment can be purchased for about 109,200 EUR.At the same time, the rent for a two-bedroom apartment, in Brasov, 25 years ago, amounted to 120 USD/month, while today, owners are asking for an average rent of 500 EUR/month, by 331% more.In Constanta, in 2000, almost 11,000 EUR were paid for the same type of apartment, but the price has presently increased to 93,200 EUR.Specialized analysis reveals that, in the case of Iasi, a two-room apartment located in the center of the city cost, 25 years ago, 13,000 USD, while at present, the approximate price is 92,100 EUR.In Timisoara, too, the purchase price of a two-bedroom apartment has risen from around 21,600 Deutsch Mark to around 91,000 EUR today."In January 2000, employees in Romania earned an average net salary of 1,725,994 RON (172 RON, depending on denomination). According to the latest data published by the National Institute of Statistics, in November last year it reached 5,388 RON. If we take into account an average net salary of 91 EUR and a national average asking price of 260 EUR/sqm. for a 2-bedroom apartments put up for sale, we can say that 25 years ago it took about 12 years to buy such a property. Currently, a Romanian needs 7 years to make a purchase, in the context in which he would save all the gains obtained," emphasize the authors of the report.Imobiliare.ro is the main provider of real estate data and statistics for the Romanian press, regularly communicating analysis, reports and indexes on the evolution of the real estate market.