Romanian Housing Prices Soar, Bucharest Apartments Up 37% in Two Years

Romanian housing prices are climbing, with Bucharest experiencing a significant 37% increase in apartment and house values since the start of 2024. The average price per square meter in the capital reached 2,125 euros in April, a stark contrast to the average net salary of around 1,400 euros per month. This trend is mirrored in other major cities, with Brașov seeing nearly a 30% rise in two years, Constanța a 25% increase, and Craiova an almost 40% jump.

Despite these escalating costs, the article highlights that housing remains relatively accessible across Romania when compared to average incomes. In most counties, the cost of a single square meter of living space is equivalent to less than two fully saved average net salaries. This suggests that while major urban centers are becoming more expensive, a broader affordability persists in many regions.

Bucharest, despite its price surge, offers the largest selection of homes for sale. However, the market exhibits considerable variation between neighborhoods, affecting prices, property age, and features. Some areas in the capital are still more affordable than other large cities, while certain districts command prices exceeding those in Cluj-Napoca. Brașov, with a limited supply of new housing, also faces rising prices, reaching an average of 2,294 euros per square meter in March. Constanța's market, while seeing a 25% increase over two years to 1,944 euros per square meter, remains below the price levels of Bucharest, Cluj-Napoca, and Brașov.