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.

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.

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.

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 *** 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 *** euros per month and two-room apartments reaching *** euros monthly as of October 2024. In contrast, Arad offers more budget-friendly options, with three-room apartments available for *** 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 ** percent, though this figure slightly decreased to **** percent in 2022 before rebounding to **** percent in 2023. Interestingly, property price inflation has moderated in recent years. The House Price Index showed minimal growth of *** percent in the second quarter of 2024 compared to the previous quarter, a stark contrast to the negative inflation rate of **** 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, notably rising interest rates, spiralling inflation and muted economic growth. Revenue is projected to sink at a compound annual rate of 0.6% over the five years through 2025, including an estimated jump of 1.2% in 2025 to €207.6 billion, 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 over 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 (2021-2023), being the cheaper alternative for cash-strapped buyers. However, even lessors felt the pinch of rising mortgage rates, forcing them to hoist rent prices to cover costs and pricing out potential buyers. This led to a slowdown in rental markets in 2023, weighing on revenue growth. However, this has 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—technology-driven innovations designed to improve and streamline the real estate industry—will force estate agents to adapt, shaking up the traditional real estate sector. 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.

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

This statistic illustrates the investment volume in the commercial property market in Bucharest, Romania, from 2013 to 2019. It can be seen that between the period of 2016 and 2018 the investment volume increased by 633 million euros, to a total of 818 million euros in 2018. In 2019 the investment volume decreased to 533 million euros.

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 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 ** percent in Romania or around ** percent in Slovakia and Lithuania. These numbers were considerably higher than in France or Italy, where homeowners made up ** percent and ** 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: 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: 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.

Nearly four out of ten respondents were of the opinion that real estate prices in the main cities in Romania would stay the same in 2021. However, ** percent of respondents expected real estate prices to decrease in the next 12 months.

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.

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.

In 2024, CBRE Real Estate Consultancy was the biggest real estate consulting agency in Romania, with a revenue of 88 million Romanian lei. Even though C&W Echinox - Echinox Property Services ranked second with a revenue of 61 million Romanian lei, their net profit was the highest at 10 million Romanian lei. Meanwhile, Knight Frank România registered net losses of five million Romanian lei in 2024.

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

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.