Apartment prices defy expectations and keep rising in Romania’s first-tier cities
<p>Apartment prices in Romania’s first-tier cities continued to rise this year, by double-digit growth rates in some cases, such as Brasov, Bucharest, or Cluj-Napoca.</p>

<p>One year ago, in April 2023, 47.3% of the CFA analysts surveyed by CFA Romania Society expected residential prices to drop, and only 13% believed they would further increase.</p>

<p>In April 2024, some 70% of the same analysts see the residential properties’ prices as overvalued (73.9% in April 2023), and the rest of 30% consider they reflect properties’ value. Out of the surveyed analysts, 53% expect the prices to decrease, 23.5% expect price stability, and another 23.5% believe there is still room for higher prices.&nbsp;</p>

<p>However, the data collected by&nbsp;Imobiliare.ro&nbsp;show that apartment prices increased by 18% y/y in Brasov, 11% in Bucharest, 10% in Cluj-Napoca, or 8.7% in Timisoara as of May, according to <a href="https://www.zf.ro/zf-24/imobiliare-preturile-apartamentelor-orasele-mari-continua-creasca-au-22396370?mc_cid=9bd522d1fe&amp;mc_eid=cd1f92f96c" rel="noopener" target="_blank">Ziarul Financiar</a>.</p>

<p>In the case of new apartments in Bucharest, the prices (EUR 1,875/sqm on average) were 16% higher in May 2024 compared to May 2023.</p>

<p>The average value for apartments in Bucharest rose to a record of EUR 1,723/sqm, representing an annual advance of over 11%. A new maximum level was also reached in the segment of old apartments of EUR 1,705/sqm.</p>

<p>Cluj-Napoca remains the most expensive city in the country for buyers interested in an apartment. With an increase of 3% only in the last 30 days, the average price requested for new residential properties reached at the end of May the value of EUR 2,960/usable square meter.</p>

<p><em>iulian@romania-insider.com</em></p>

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