Residential property prices in Romania increased slightly in 2022, but when accounting for inflation, there was a decline in prices. The selling price of an apartment in the Central European country increased by four percent nominally. The inflation adjusted annual price change was negative 12.5 percent as of the fourth quarter of the year.

Housing Index in Romania increased to 161.75 points in the first quarter of 2025 from 158.36 points in the fourth quarter of 2024. This dataset provides - Romania House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Real Residential Property Prices for Romania (QROR628BIS) from Q1 2009 to Q4 2024 about Romania, residential, HPI, housing, real, price index, indexes, and price.

Key information about House Prices Growth

• Romania house prices grew 7.0% YoY in Sep 2022, following an increase of 8.5% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2010 to Sep 2022, with an average growth rate of 3.0%.
• House price data reached an all-time high of 8.5% in Jun 2022 and a record low of -17.1% in Dec 2011.

CEIC calculates House Prices Growth from quarterly Residential Property Price Index. The National Institute of Statistics provides Residential Property Price Index with base 2015=100. House Prices Growth covers Residential Settlements only. House Prices Growth prior to Q1 2017 is calculated from Residential Property Price Index with base 2009=100.

Residential Property Prices in Romania increased 3.90 percent in December of 2024 over the same month in the previous year. This dataset includes a chart with historical data for Romania Residential Property Prices.

The Direct Real Estate Activities industry have come up against numerous headwinds in recent years, ranging from the COVID-19 outbreak in 2020 to the high base rate environment in the years since, which has inflated borrowing costs for potential buyers. This is a sharp contrast to the ultra-low interest environment seen over the decade following the 2008 financial crisis. Still, revenue is forecast to edge upwards at a compound annual rate of 0.6% over the five years through 2025 to €622.9 billion, including an anticipated rise of 0.8% in 2025. Despite weak revenue growth, profitability remains strong, with the average industry profit margin standing at an estimated 18.9% in 2025. Central banks across Europe adopted aggressive monetary policy in the two years through 2023 in an effort to curb spiralling inflation. This ratcheted up borrowing costs and hit the real estate sector. In the residential property market, mortgage rates picked up and hit housing transaction levels. However, the level of mortgage rate hikes has varied across Europe, with the UK experiencing the largest rise, meaning the dent to UK real estate demand was more pronounced. Commercial real estate has also struggled due to inflationary pressures, supply chain disruptions and rising rates. Alongside this, the market’s stock of office space isn’t able to satisfy business demand, with companies placing a greater emphasis on high-quality space and environmental impact. Properties in many areas haven't been suitable due to their lack of green credentials. Nevertheless, things are looking up, as interest rates have been falling across Europe over the two years through 2025, reducing borrowing costs and boosting the number of property transactions, which is aiding revenue growth for estate agents. Revenue is slated to grow at a compound annual rate of 4.5% over the five years through 2030 to €777.6 billion. Economic conditions are set to improve in the short term, which will boost consumer and business confidence, ramping up the number of property transactions in both the residential and commercial real estate markets. However, estate agents may look to adjust their offerings to align with the data centre boom to soak up the demand from this market, while also adhering to sustainability commitments.

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.

Companies operating in the third-party real estate industry have had to navigate numerous economic headwinds in recent years, ranging from rising interest rates, spiralling inflation and muted economic growth. Typically, estate agents can earn income via fees and commissions charged to clients, which allows them to protect their operating profit margin from property price fluctuations. Revenue is projected to sink at a compound annual rate of 0.6% over the five years through 2025, including an estimated rise of 1.2% in 2025 to €207.6billion, while the average industry profit margin is forecast to reach 35.1%. Amid spiralling inflation, central banks across Europe ratcheted up interest rates, resulting in borrowing costs skyrocketing in the two years through 2023. In residential markets, elevated mortgage rates combined with tightening credit conditions eventually ate into demand, inciting a drop in house prices. Rental markets performed well when house prices were elevated, being the cheaper alternative for cash-strapped buyers. However, even lessors felt the pinch of rising mortgage rates, forcing them to hoist rent to cover costs and pricing out potential buyers. This led to a slowdown in rental markets in 2023, weighing on revenue growth. However, this have started to turn around in 2025 as interest rates have been falling across Europe in the two years through 2025, reducing borrowing costs for buyers and boosting property transactions. This has helped revenue to rebound slightly in 2025 as estate agents earn commission from property transactions. Revenue is forecast to swell at a compound annual rate of 3.7% over the five years through 2030 to €249.5 billion. Housing prices are recovering in 2025 as fixed-rate mortgages begin to drop and economic uncertainty subsides, aiding revenue growth in the short term. Over the coming years, Proptech, which has been heavily invested in, will force estate agents to adapt, shaking up the traditional real estate industry. A notable application of Proptech is the use of AI and data analytics to predict a home’s future value and speed up the process of retrofitting properties to become more sustainable.

Romania: Housing and utilities price index, world average = 100: The latest value from 2021 is 65.8 index points, an increase from 59.22 index points in 2017. In comparison, the world average is 77.639 index points, based on data from 165 countries. Historically, the average for Romania from 2017 to 2021 is 62.51 index points. The minimum value, 59.22 index points, was reached in 2017 while the maximum of 65.8 index points was recorded in 2021.

Graph and download economic data for Harmonized Index of Consumer Prices: Actual Rentals for Housing for Romania (CP0410ROM086NEST) from Dec 2000 to May 2025 about Romania, harmonized, rent, CPI, housing, price index, indexes, and price.

Real residential property prices Y-on-Y, percent change in Romania, December, 2024 The most recent value is -0.98 percent as of Q4 2024, an increase compared to the previous value of -0.99 percent. Historically, the average for Romania from Q1 2010 to Q4 2024 is -2.69 percent. The minimum of -18.6 percent was recorded in Q4 2010, while the maximum of 9.74 percent was reached in Q2 2016. | TheGlobalEconomy.com

Romania - Housing cost overburden rate: Tenant, rent at market price was 28.30% 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: Tenant, rent at market price - last updated from the EUROSTAT on July of 2025. Historically, Romania - Housing cost overburden rate: Tenant, rent at market price reached a record high of 72.70% in December of 2012 and a record low of 28.30% in December of 2024.

Romania - Severe housing deprivation rate: Tenant, rent at market price was 1.80% in December of 2023, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Romania - Severe housing deprivation rate: Tenant, rent at market price - last updated from the EUROSTAT on July of 2025. Historically, Romania - Severe housing deprivation rate: Tenant, rent at market price reached a record high of 53.00% in December of 2015 and a record low of 1.80% in December of 2023.

Source Code: Q:RO:R:628

Coverage includes all types of new and existing dwellings in the whole country. The series is deflated using CPI.

For more information, please see https://www.bis.org/statistics/pp_detailed.htm.

Any use of the series shall be cited as follows: "Sources: National sources, BIS Residential Property Price database, http://www.bis.org/statistics/pp.htm."

Copyright, 2016, Bank for International Settlements (BIS). Terms and conditions of use are available at http://www.bis.org/terms_conditions.htm#Copyright_and_Permissions.

Context

As a Computer Science student willing to continue its studies in Bucharest, I decided to take a look at what the real estate market has to offer in this city. The main focus was to gather some data on the rental prices, since I didn't intend to buy a house any sooner (something way too expensive for me at the moment haha). However, out of curiosity, I tried to take a peek at house prices, so there is some data on that part too.

Content

The data contains different details extracted from renting house advertisements, like location area, house comfort, number of rooms, construction year etc. All of the information has been collected during September 2020, for Bucharest, RO.

Acknowledgements

All the data has been collected from www.imobiliare.ro thanks to a personal small Node.js application which I carefully constructed so that it would not harm the platform's server with too many requests at a time (also the reason why the entire data collecting process has taken a ridiculously long time).

Data Rights

This dataset was originally intended just for personal use, and maybe for some university personal projects. In case you need to use this data for any kind of research, let me know. Since all the data was made publicly available through advertisements, and no sensitive data has been taken, there should not be problems regarding data rights, as long as imobiliare.ro is recognized as the original data creator.

The number of individual dwelling transactions has fluctuated in the past few years, reaching the lowest number in 2019 at 113,800, and the highest peak recorded in 2021–183,000. Bucharest was by far the most busy real estate market, accounting for 35.5 percent of total transactions. Out of all the large cities, only Pitesti and Ploiesti had a positive number of transactions growth compared to 2022—up by 16 percent each.

Romania - Harmonised index of consumer prices (HICP): Actual rentals for housing was 154.15 points in May of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Romania - Harmonised index of consumer prices (HICP): Actual rentals for housing - last updated from the EUROSTAT on July of 2025. Historically, Romania - Harmonised index of consumer prices (HICP): Actual rentals for housing reached a record high of 154.15 points in May of 2025 and a record low of 18.98 points in December of 2000.

Graph and download economic data for Harmonized Index of Consumer Prices: Overall Index Excluding Housing, Water, Electricity, Gas, and Other Fuels for Romania (00XHOUROM086NEST) from Dec 2000 to May 2025 about Romania, water, fuels, electricity, harmonized, gas, CPI, housing, price index, indexes, and price.

Graph and download economic data for Harmonized Index of Consumer Prices: Water Supply and Miscellaneous Services Relating to the Dwelling for Romania (CP0440ROM086NEST) from Dec 2000 to May 2025 about Romania, water, miscellaneous, harmonized, services, CPI, housing, price index, indexes, and price.

Since the COVID-19 pandemic, weak economic conditions have deterred new investment into the construction sector as businesses have sought to preserve cash amid an inflationary economic environment, leading to the postponement and even cancellation of large construction projects. This has restricted the number of opportunities in the new building construction market. However, consumers have increased spending on repair, maintenance and renovation activities, supporting other revenue opportunities for building completion and finishing contractors, supporting an uptick in revenue. Revenue is forecast to grow at a compound annual rate of 3.1% over the five years through 2024 to reach €328 billion. Significant inflationary pressures have led to retaliatory hikes to the central banks’ base interest rate, increasing the cost of borrowing. This has limited the number of new construction projects and also caused the housing market to cool as would-be home buyers are priced out of mortgages. In turn, property developers have reduced output, and consumers have managed spending budgets with greater care, increasing the threat from DIY. As such, revenue is forecast to sink by a further 2.3% in 2024 to €328 billion. Over the five years through 2029, revenue is projected to climb at a compound annual rate of 4% to reach €399.3 billion, supported by recovering economic conditions and renewed investment into the construction sector. As sentiment levels return to growth and the inflation rate eases, businesses and consumers will be more likely to undertake larger projects, supporting demand for building completion and finishing services.