The house price index in Romania peaked in the third quarter of 2024 at 155.86. It increased by roughly 3.9 percent since the same quarter of the previous year.

The House Price Index (HPI) measures price changes of all residential properties purchased by households. The lowest figure was in the third quarter of 2020 at -2.6 percent. In the second quarter of 2024 it registered a growth of only 0.5 percent compared to the previous quarter.

Housing Index in Romania increased to 155.86 points in the third quarter of 2024 from 155.06 points in the second quarter of 2024. This dataset provides - Romania House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Romanian housing market has seen a remarkable shift over the past two decades, with the time required to purchase an apartment in Bucharest dropping significantly. In 2008, it took an average earner nearly 33 years to afford a home in the capital. Fast forward to 2024, and that timeframe has shrunk to just 5.6 years, marking a dramatic improvement in housing affordability for Bucharest residents. One room in Cluj or three in Arad? While Bucharest's housing market has become more accessible, other Romanian cities show varying degrees of affordability in their rental markets. Cluj-Napoca consistently ranks as one of the most expensive cities for renters, with one-room apartments averaging 400 euros per month and two-room apartments reaching 600 euros monthly as of October 2024. In contrast, Arad offers more budget-friendly options, with three-room apartments available for 448 euros per month on average. Homeownership high as always Despite the improving affordability in Bucharest, Romania maintains a high rate of homeownership. The country has historically seen owner-occupancy rates above 95 percent, though this figure slightly decreased to 94.8 percent in 2022 before rebounding to 95.6 percent in 2023. Interestingly, property price inflation has moderated in recent years. The House Price Index showed minimal growth of 0.5 percent in the second quarter of 2024 compared to the previous quarter, a stark contrast to the negative inflation rate of -2.6 percent observed in the third quarter of 2020. This stabilization in property prices may contribute to the sustained high levels of homeownership across the country.

The average transaction price of new housing in Europe was the highest in Norway, whereas existing homes were the most expensive in Austria. Since there is no central body that collects and tracks transaction activity or house prices across the whole continent or the European Union, not all countries are included. To compile the ranking, the source weighed the transaction prices of residential properties in the most important cities in each country based on data from their national offices. For example, in Germany, the cities included were Munich, Hamburg, Frankfurt, and Berlin. House prices have been soaring, with Sweden topping the ranking Considering the RHPI of houses in Europe (the price index in real terms, which measures price changes of single-family properties adjusted for the impact of inflation), however, the picture changes. Sweden, Luxembourg and Norway top this ranking, meaning residential property prices have surged the most in these countries. Real values were calculated using the so-called Personal Consumption Expenditure Deflator (PCE), This PCE uses both consumer prices as well as consumer expenditures, like medical and health care expenses paid by employers. It is meant to show how expensive housing is compared to the way of living in a country. Home ownership highest in Eastern Europe The home ownership rate in Europe varied from country to country. In 2020, roughly half of all homes in Germany were owner-occupied whereas home ownership was at nearly 97 percent in Romania or around 90 percent in Slovakia and Lithuania. These numbers were considerably higher than in France or Italy, where homeowners made up 65 percent and 72 percent of their respective populations.For more information on the topic of property in Europe, visit the following pages as a starting point for your research: real estate investments in Europe and residential real estate in Europe.

Romania - Housing cost overburden rate: From 18 to 64 years was 9.50% in December of 2023, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Romania - Housing cost overburden rate: From 18 to 64 years - last updated from the EUROSTAT on March of 2025. Historically, Romania - Housing cost overburden rate: From 18 to 64 years reached a record high of 18.00% in December of 2012 and a record low of 7.20% in December of 2020.

Romania - Housing cost overburden rate: Two adults was 7.50% in December of 2023, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Romania - Housing cost overburden rate: Two adults - last updated from the EUROSTAT on March of 2025. Historically, Romania - Housing cost overburden rate: Two adults reached a record high of 17.20% in December of 2012 and a record low of 6.60% in December of 2020.

Romania - Housing cost overburden rate: Owner, no outstanding mortgage or housing loan was 7.40% in December of 2023, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Romania - Housing cost overburden rate: Owner, no outstanding mortgage or housing loan - last updated from the EUROSTAT on March of 2025. Historically, Romania - Housing cost overburden rate: Owner, no outstanding mortgage or housing loan reached a record high of 17.50% in December of 2012 and a record low of 6.50% in December of 2020.

Romania - Housing cost overburden rate: Third quintile was 4.00% in December of 2023, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Romania - Housing cost overburden rate: Third quintile - last updated from the EUROSTAT on March of 2025. Historically, Romania - Housing cost overburden rate: Third quintile reached a record high of 13.90% in December of 2012 and a record low of 1.90% in December of 2020.

Romania - Housing cost overburden rate: Fifth quintile was 0.60% in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Romania - Housing cost overburden rate: Fifth quintile - last updated from the EUROSTAT on March of 2025. Historically, Romania - Housing cost overburden rate: Fifth quintile reached a record high of 3.90% in December of 2012 and a record low of 0.40% in December of 2020.

Os dados de Crescimento nominal do índice de preços da propriedade residencial da Romênia foram registrados em 4.000 % em 2024-09. Este registro de uma queda com relação aos números anteriores de 6.897 % em 2024-06. Os dados de Crescimento nominal do índice de preços da propriedade residencial da Romênia são atualizados trimestral, com uma média de 3.093 % em 2010-03 até 2024-09, com 59 observações. Os dados alcançaram um alto recorde de 8.333 % em 2020-03 e um baixo recorde de -13.913 % em 2011-12. Os dados de Crescimento nominal do índice de preços da propriedade residencial da Romênia permanecem com status ativo na CEIC e são reportados pela fonte: Bank for International Settlements. Os dados são classificados sob o World Trend Plus’ Association: Property Sector – Table RK.BIS.RPPI: Selected Nominal Residential Property Price Index: 2010=100: Quarterly: YoY %.

The house price to income index in Europe declined in almost all European countries in 2023, indicating that income grew faster than house prices. Portugal, Luxembourg, and the Netherlands led the house price to income index ranking in 2023, with values exceeding 125 index points. Romania, Bulgaria, and Finland were on the other side of the spectrum, with less than 100 index points. The house price to income ratio is an indicator for the development of housing affordability across OECD countries and is calculated as the nominal house prices divided by nominal disposable income per head, with 2015 chosen as a base year. A ratio higher than 100 means that the nominal house price growth since 2015 has outpaced the nominal disposable income growth, and housing is therefore comparatively less affordable. In 2023, the OECD average stood at 117.4 index points.

In the presented European countries, the homeownership rate extended from 42 percent in Switzerland to as much as 96 percent in Albania. Countries with more mature rental markets, such as France, Germany, the UK and Switzerland, tended to have a lower homeownership rate compared to the frontier countries, such as Lithuania or Slovakia. The share of house owners among the population of all 27 European countries has remained relatively stable over the past few years. Average cost of housing Countries with lower homeownership rates tend to have higher house prices. In 2023, the average transaction price for a house was notably higher in Western and Northern Europe than in Eastern and Southern Europe. In Austria - one of the most expensive European countries to buy a new dwelling in - the average price was three times higher than in Greece. Looking at house price growth, however, the most expensive markets recorded slower house price growth compared to the mid-priced markets. Housing supply With population numbers rising across Europe, the need for affordable housing continues. In 2023, European countries completed between one and six housing units per 1,000 citizens, with Ireland, Poland, and Denmark responsible heading the ranking. One of the major challenges for supplying the market with more affordable homes is the rising construction costs. In 2021 and 2022, housing construction costs escalated dramatically due to soaring inflation, which has had a significant effect on new supply.

The natural gas prices for household consumers have slightly increased in Romania in the first half of 2024. The price for natural gas that household consumers were paying in the first semester of 2023 the price has increased by six percent compared to the same semester of the following year, the average price for household consumers in 2022 reached 12.65 euro cents per kilowatt-hour. However, in 2024, the prices dropped considerably, reaching a price of 5.81 euro cents in the first half of 2024.

罗马尼亚的名义住宅物业价格指数增长在09-01-2024达4.000%，相较于06-01-2024的6.897%有所下降。罗马尼亚名义住宅物业价格指数增长数据按季更新，03-01-2010至09-01-2024期间平均值为3.093%，共59份观测结果。该数据的历史最高值出现于03-01-2020，达8.333%，而历史最低值则出现于12-01-2011，为-13.913%。CEIC提供的罗马尼亚名义住宅物业价格指数增长数据处于定期更新的状态，数据来源于Bank for International Settlements，数据归类于世界趋势数据库的机构：房地产业 – 表 RK.BIS.RPPI：选定的名义住宅物业价格指数：2010年=100：季度：同比百分比。

루마니아의 명목 주거 재산 가격 지수 성장은 2024-09에 4.000 %로 보고 되었습니다. 이는 2024-06에 6.897 %라는 이전 수치에 비 해하락한 기록입니다.루마니아의 명목 주거 재산 가격 지수 성장 데이터는 계간지마다 업데이트 되며,59개의 관측으로 2010-03부터 2024-09사이에 평균 3.093 %입니다. 이 데이터는2020-03에 8.333 %라는사상 최고치를, 2011-12에 -13.913 %라는 최저치를 기록했습니다. 루마니아’의 명목 주거 재산 가격 지수 성장 데이터는 CEIC에 활성 상태로 남아 있으며Bank for International Settlements에 의해 보고되는 정보입니다. 본 데이터는 World Trend Plus의 Association: Property Sector - Table RK.BIS.RPPI: Selected Nominal Residential Property Price Index: 2010=100: Quarterly: YoY %하에 분류 됩니다.

Geneva, Switzerland, was the most expensive city to buy an apartment in Europe in the first quarter of 2024. The square meter price in Geneva was nearly 15,650 euros in that quarter, about 2,000 euros higher than the second city in the ranking, Zurich. Cost of rent Rents across the major cities in Europe increased significantly in 2023. One of the main factors driving high rents across European cities is the same as any other consumer-driven business. If demand outweighs supply, prices will inflate. The drive for high paid professionals to be located centrally in prime locations, mixed with the low levels of available space, high land, and construction costs, all help keep rental prices increasing. Mortgage rates The average mortgage interest rates across Europe in 2023 were all under five percent, except in Czechia, Romania, Hungary, and Poland. On an individual level, a difference of one percent would most likely mean thousands of euros in interest on the mortgage a person is paying, making timing key in house purchasing. Mortgage interest rates tend to be lower in Nordic countries due to the financial stability and reliability of its borrowers. Other factors that influence the mortgage interest rates include inflation, economic growth, monetary policies, the bond market and the overall conditions of the housing market. More stable markets also tend to have higher average prices.

The share of households struggling to keep their homes adequately warm increased in all CEE countries between 2020 and 2023, except for Bulgaria. In Romania, the share of households struggling with heating peaked in 2022 at 15 percent.

The mortgage prevalence among homeowners in Europe varied widely across different countries in 2023. About 79 percent of the total population in Norway was a homeowner, with 60 percent paying out a mortgage loan. Conversely, only one percent of households in Romania had a mortgage, with nearly 96 percent being homeowners. Meanwhile, an average of 25 percent of the total population within the EU-27 was an owner-occupant with a mortgage or housing loan. Homeownership depends on multiple factors, such as housing policy, the macroeconomic situation, the state of the housing sector, and the availability of finance. Countries with more developed mortgage markets tend to have lower mortgage interest rates.

The average mortgage interest rate decreased in nearly every country in Europe between 2012 and 2021, followed by an increase in response to inflation. In Hungary, Poland, Czechia, and Romania, mortgage rates peaked in late 2022 and the beginning of 2023, followed by a gradual decline until the first quarter of 2024. The rest of the countries under observation, including the biggest mortgage markets - the UK and Germany, saw a continued increase in interest rates until the fourth quarter of 2023. In the first quarter of 2024, mortgage interest rates declined quarter-on-quarter across almost all markets in focus, marking a long awaited easing of monetary policy.