Rents in Sibiu are stagnating or showing signs of starting to decrease. “In the context of the current dynamics of the real estate market, we see a significant adjustment”

The latest data made public by the Storia platform at the level of April 2024 shows a stagnation of rents for studios and even a decrease for two and three-room apartments.

The market trend is down for rents and up for purchases. For example, the rents requested by apartment owners in the main 10 big cities were in April, on average, 15% higher than in the similar period in 2023, while compared to March 2024 the level was decreasing by about 3%, it shows the analysis carried out by the Storia platform, launched by OLX.

Thus, the average price requested for renting studios and apartments with two and three rooms, in April 2024, was 498 euros.

Also, interactions between tenants and owners or agents decreased by 1% compared to April of the previous year (April 2024 vs. April 2023).

“In the context of the current dynamics of the real estate market, we observe a significant adjustment. With a slightly decreasing demand for rentals and a visibly increasing trend for purchases, we are witnessing a reconfiguration of market dynamics. This phenomenon is reflected in an increase in the property listing period and in a diversification of the portfolio available on the real estate market. For example, in April 2024, we noticed a significant increase – 15% more apartments for rent available on the Storia platform, compared to the same period of the previous year”, said Răzvan Ceapă, Head of Operations Storia & OLX Imobiliare.

In Sibiu, the average rental prices requested in April 2024 registered stagnation in the studio category, compared to those of the previous month, while apartments with two (-5%) and three rooms (-7%) were rented with lower prices.

Compared to April 2023, the average asking prices in April 2024 for rent increased for all apartment categories – by 20% for studios, by 9% for two-room apartments and by 11% for three-room apartments.

Thus, in April 2024, the average rental price of studios was 300 euros, while two-room apartments were rented, on average, for 380 euros, and three-room apartments were rented for 500 euros.

Subscribe to the Turnul Sfatului WhatsApp channel to find out in real time the relevant news from Sibiu: access the link here and press the Follow option.