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.

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.

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.

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.

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.

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.

The size of the Europe Office Real Estate Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 4.00">> 4.00% during the forecast period. The Europe office real estate market refers to the segment of the property market focused on the development, leasing, and sale of office spaces across European countries. This market includes a wide range of properties, from high-rise office buildings in major cities to smaller office spaces in suburban areas. The demand for office real estate is influenced by various factors, including economic growth, corporate expansion, and trends in workforce dynamics. In recent years, the rise of hybrid and remote working models has reshaped the office real estate landscape, leading to a greater focus on flexible workspaces, coworking spaces, and adaptable office layouts that accommodate changing business needs. Key markets for office real estate in Europe include major business hubs such as London, Paris, Frankfurt, and Amsterdam, where demand is driven by multinational corporations, financial institutions, and tech companies. These cities tend to have higher rental rates and more competitive markets due to the concentration of businesses and economic activity. Secondary cities and regional markets are also growing, offering more affordable office space and appealing to companies looking to decentralize or relocate to less expensive areas. Recent developments include: May 2023: CBRE Group, Inc. announced that its property management group has formed a global strategic partnership with Deepki that will bring Deepki Ready, one of the world's most extensive landlord-focused real estate sustainability data intelligence platforms to the commercial properties CBRE manages for investors around the world. CBRE has been using Deepki for properties it manages in the United Kingdom for more than two years; Deepki is now being deployed across CBRE-managed properties throughout Continental Europe, with plans to begin using Deepki in the Americas and the Pacific region as the next step in a global rollout., April 2023: Global real estate professional services firm JLL and iO Partners announce that JLL will transfer its existing Leasing, Capital Markets, Valuation Advisory, Consulting, and Project Management delivery businesses to iO Partners in the Czech Republic, Hungary, Romania, and Slovakia. The two companies have formed a preferred partnership enabling them to service clients in the Czech Republic, Hungary, Romania and Slovakia. The agreement will give iO Partners a strong presence in these four countries with experienced employees, efficient systems and processes, and a strong ongoing partnership with JLL.. Key drivers for this market are: Economic Growth, Urbanization and Urban Renewal; Foreign Investments in the Sector. Potential restraints include: The Uncertainty Surrounding Brexit. Notable trends are: Offices Remain a Core Sector.

The annual supply of new office space in 2023 in Bucharest was 126,667 square meters and is forecasted to drop to 18,300 square meters by the end of 2024, which will be from two small office buildings. The highest ever office supply was achieved in 2009 at 450,000 square meters, while the lowest is expected to be registered in 2025 at zero square meters due to postponement of projects.

Building contractors and developers depend on various socio-economic factors, including property values, underlying sentiment in the housing market, the degree of optimism among downstream businesses and credit conditions. All of these drivers typically track in line with economic sentiment, with recent economic shocks spurring a difficult period for building contractors and developers. Nonetheless, the enduring need for building services, particularly to tackle housing shortages across the continent, ensures a strong foundation of work. Revenue is forecast to grow at a compound annual rate of 2.3% to reach €1.3 trillion over the five years through 2025. Operational and supply chain disruption caused by the pandemic reversed the fortunes of building contractors and developers in 2020, as on-site activity tumbled and downstream clients either cancelled, froze or scaled back investment plans. Aided by the release of pent-up demand and supportive government policy, building construction output rebounded in 2021. Excess demand for key raw materials led to extended lead times during this period, while input costs recorded a further surge as a result of the effects of rapidly climbing energy prices following Russia’s invasion of Ukraine. Soaring construction costs and the impact of interest rate hikes on both the housing market and investor sentiment led to a renewed slowdown in building construction activity across the continent. However, falling inflation and the start of an interest rate cutting cycle have spurred signs of a recovery in new work volumes, supporting anticipated revenue growth of 2.3% in 2025. Revenue is forecast to increase at a compound annual rate of 6.7% to €1.7 trillion over the five years through 2030. Activity is set to remain sluggish in the medium term, as weak economic growth and uncertainty surrounding the impact of the volatile global tariff environment on inflation and borrowing costs continue to weigh on investor sentiment. Contractors and developers will increasingly rely on public sector support, including measures to boost the supply of new housing, as countries seek to tackle severe housing shortages. Meanwhile, the introduction of more stringent sustainability requirements will drive demand for energy retrofits.

The Romanian facility management (FM) market, valued at approximately €1.5 billion in 2025, is projected to experience steady growth, exhibiting a compound annual growth rate (CAGR) of 2.56% from 2025 to 2033. This growth is fueled by several key factors. The increasing adoption of outsourced facility management services, particularly bundled and integrated FM solutions, across commercial, institutional, and industrial sectors is a primary driver. A burgeoning construction sector and expanding urban infrastructure are also contributing to heightened demand for professional FM services. Furthermore, the growing awareness of sustainability and the need for efficient resource management among businesses is pushing the adoption of smart building technologies and green FM practices, further stimulating market expansion. The market segmentation reveals a strong preference for outsourced services, with bundled and integrated offerings gaining significant traction due to their cost-effectiveness and comprehensive nature. This trend indicates a shift from in-house FM towards specialized external providers capable of handling complex facility needs. However, the market faces certain restraints. Economic fluctuations can impact investment in FM services, particularly within the industrial sector. Furthermore, a shortage of skilled professionals in the FM industry, coupled with intense competition among established players and new entrants, poses a challenge to sustained, rapid growth. Despite these constraints, the long-term outlook for the Romanian FM market remains positive, driven by robust economic growth, infrastructure development, and a growing focus on sustainability across various business sectors. The market is expected to witness increased specialization and technological integration in the coming years, leading to the emergence of innovative FM solutions tailored to specific client needs. This continuous evolution will further enhance the overall market value and broaden its scope. This report provides a detailed analysis of the burgeoning Romania facility management industry, offering invaluable insights for investors, industry players, and strategic decision-makers. Covering the period from 2019 to 2033, with a base year of 2025 and a forecast period extending to 2033, this study unveils the market's dynamics, growth drivers, challenges, and future trends. The report encompasses market sizing in millions, detailed segmentations, and key player analysis, providing a holistic view of this rapidly evolving sector. Recent developments include: January 2022 - Forty Management, one of the Romanian developers, has initiated the authorization procedure for Royal Suites Central District in northern Bucharest with EUR 76 million. After completion, the building will be the tallest residential project in Romania, with a height of 122 meters., August 2021 - CBRE Romania provides strategic consulting for commercial rental spaces and air cargo terminal development projects in Oradea. CTPark Iota will build the terminal, a company part of the CTP Group, the largest logistics owner and developer of industrial real estate in the CEE region, which won the tender conducted by the Bihor County Council.. Key drivers for this market are: Growing Trend Toward commercializations, Increasing Trends in E commerce Buisness. Potential restraints include: Diminishing Profit Margins and Ongoing Changes in Macro-environment. Notable trends are: Commercial Segment Holds the Major Market Share.

In 2023, CBRE was the real estate consultancy company with the highest revenue in Romania, worth 87.5 million Romanian lei. C&W Echinox recorded a revenue of 52.2 million Romanian lei, while Colliers International had 45 million Romanian lei.

Revenue is forecast to swell at a compound annual rate of 3.1% over the five years through 2025 to €291.2 billion. Electrical contractors serve the construction sector, so procyclical commercial and residential construction trends influence revenue prospects. Hence, economic uncertainty associated with rampant inflationary pressures and reduced budgets has caused year-on-year revenue volatility for the Electricians industry. Weak economic conditions have restricted the number of new projects coming to fruition, hindering the number of big-ticket tender opportunities available for electricians to bid for and obtain. Businesses have remained cautious amid an uncertain economic outlook, opting to preserve cash and postpone or cancel significant construction projects. Over the two years through 2024, inflationary pressures have persisted and retaliatory increases to the base rate have ballooned the cost of borrowing. Despite public funding and support for new residential properties, a cooling housing market has limited demand from property developers. In 2024, as inflation began to ease, central banks responded by lowering interest rates to support economic growth. This move has encouraged property and commercial building investors to initiate construction and renovation projects, thereby boosting opportunities for electricians to bid for new contracts. Despite ongoing economic uncertainties that continue to challenge revenue prospects, the push for net-zero emissions has significantly bolstered demand for energy-efficient electrical systems. This shift is diversifying and enhancing the demand for new electrical installations. Revenue is expected to climb by 1.2% in 2025. As inflationary pressures subside and business and consumer sentiment rebound, revenue prospects will grow and more large tender opportunities will come to fruition. Businesses will increase spending budgets in line with recovering economic conditions and recovering house prices will spur new opportunities in the residential market, contributing to a recovery in income. Ongoing efforts to achieve carbon neutrality will continue to drive innovation in the industry and prompt electricians to upskill to ensure they can delivery energy-efficient electrical solutions to clients. Revenue is forecast to expand at a compound annual rate of 5.3% over the five years through 2030 to €377.6 billion.

Romania's industrial and logistics real estate market showed robust growth in 2023, with average rents reaching *** euros per square meter. This figure reflects the increasing demand for industrial space across the country, particularly in major cities like Bucharest and Cluj-Napoca. The capital city, Bucharest, commanded the highest rent at *** euros per square meter, underscoring its position as the primary hub for industrial and logistics operations in Romania. Expanding industrial landscape The industrial sector in Romania has been experiencing significant expansion. By 2024, the country's modern industrial stock reached *** million square m, with ******* square m of new leasable space added, which represents a ** percent increase compared to 2023. Bucharest continued to dominate the market, accounting for ** percent of the new industrial supply. The growth trend is expected to continue, with an additional ******* square m projected to be completed by the end of 2024. Regional centers attractive to investors While Bucharest remains the focal point of industrial and logistics activities, other regions are also seeing development. The Western and North-Western regions collectively held about **** percent of the total stock. Cities like Cluj-Napoca, Timișoara, and Brașov are attracting investments, with rental rates slightly lower than the capital. In terms of available space, over ******* square m were ready for rent in 2023, with Bucharest holding nearly ** percent of this stock. Timișoara followed as the second most available market with ****** square m, indicating growing interest in regional industrial hubs.

The growth rate of the retail parks segment is higher than that of malls, with their share in the market increasing from ** percent in 2022 to ** percent in 2023. In 2022, ****** million euros were invested in this segment, and the market is expected to reach *** million euros in 2023.      Retail Spaces in Romania            In Romania, the retail landscape is undergoing dynamic shifts, with retail park deliveries witnessing a consistent uptrend. Projections indicate that by the end of 2023, the annual retail park supply will surge to ******* square meters (about the area of The Vatican).The aggressive expansion of modern trade stores has impacted the growth of traditional trade stores in the first quarter of 2022. Despite traditional trade stores and minimarkets experiencing the highest value growth at **** percent, traditional stores suffered a negative network growth of *** percent.      Clothing Market          In 2022, Romania's clothing market witnessed distinct trends, with ** percent of Romanians opting for second-hand stores. A survey revealed that the primary motivation for second-hand shoppers was cost reduction. Meanwhile, ** percent of Romanians, reacting to rising gas prices, chose to lower room temperatures and layer up for warmth. The survey on warm clothing prices indicated that nearly a third of e-shoppers perceived a significant price increase throughout the year. Noteworthy players in Romania's clothing retail sector included Pepco and Inditex, holding the top positions in 2022 with revenues exceeding *** and *** billion Romanian lei, respectively.

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.

Geneva stands out as Europe's most expensive city for apartment purchases in early 2025, with prices reaching a staggering 15,720 euros per square meter. This Swiss city's real estate market dwarfs even high-cost locations like Zurich and London, highlighting the extreme disparities in housing affordability across the continent. The stark contrast between Geneva and more affordable cities like Nantes, France, where the price was 3,700 euros per square meter, underscores the complex factors influencing urban property markets in Europe. Rental market dynamics and affordability challenges While purchase prices vary widely, rental markets across Europe also show significant differences. London maintained its position as the continent's priciest city for apartment rentals in 2023, with the average monthly costs for a rental apartment amounting to 36.1 euros per square meter. This figure is double the rent in Lisbon, Portugal or Madrid, Spain, and substantially higher than in other major capitals like Paris and Berlin. The disparity in rental costs reflects broader economic trends, housing policies, and the intricate balance of supply and demand in urban centers. Economic factors influencing housing costs The European housing market is influenced by various economic factors, including inflation and energy costs. As of April 2025, the European Union's inflation rate stood at 2.4 percent, with significant variations among member states. Romania experienced the highest inflation at 4.9 percent, while France and Cyprus maintained lower rates. These economic pressures, coupled with rising energy costs, contribute to the overall cost of living and housing affordability across Europe. The volatility in electricity prices, particularly in countries like Italy where rates are projected to reach 153.83 euros per megawatt hour by February 2025, further impacts housing-related expenses for both homeowners and renters.