The price of rents increased by 15% compared to last year. What are the rent prices in Bucharest and in the country – Revista Biz

In April this year, there were 10% fewer interactions between tenants and those who publish rental ads on Storia – the real estate platform launched by OLX, compared to the previous month (March 2024). However, interactions between tenants and landlords or agents decreased by 1% compared to April of the previous year (April 2024 vs. April 2023).

Asking prices on Storia for rentals in the 10 cities analyzed, the cities with the most ads on the platform, saw a 15% year-on-year increase (April 2024 vs. April 2023), while asking prices for month on month (April 2024 vs. March 2024) they decreased by 3%. Thus, the average price requested for renting studios and apartments with two and three rooms, in April 2024, was 498 euros.

“In the context of the current dynamics of the real estate market, we see a significant adjustment. With a slightly decreasing demand for rentals and a noticeably increasing trend for purchases, we are witnessing a reconfiguration of market dynamics. This phenomenon is reflected in an increase in the listing period of properties 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.

How rent prices have evolved in Bucharest, according to Storia data

Compared to April 2023, in April 2024 the average rental prices increased the most (+13%) in the studio category, where the average rental price was 348 euros. Also, the average price for renting two-room apartments was 543 euros in April 2024, 12% higher than in April 2023. At the same time, the average price for renting three-room apartments in the Capital increased by 11 % from one year to another, with an average value of 767 euros.

As in recent months, sector 1 of the Capital is still the most expensive sector in Bucharest, with apartments for rent at an average price of 757 euros, while sector 4 remains the cheapest sector in April 2024 as well , with average prices of 458 euros. Thus, those who want to live with rent in sector 1 of the Capital pay 65% ​​more than those in sector 4 of Bucharest.
According to Storia data, in April apartments for rent in sector 6 recorded the highest price increase compared to last year (+24%), followed by apartments in sector 2 (+23%) and those in sectors 3 and 5 (+16%). The lowest price increases per sector were recorded in sector 1 (+6%) and sector 4 (+12%).

In April 2024, the average rents for a studio apartment were between 319 euros (in sector 5) and 400 euros (sector 1). Average rental prices for two-room apartments were between 450 euros (sector 4) and 670 euros (sector 1). Three-room apartments had average rental prices between 530 euros (sector 6) and 1000 euros (sector 1).

How rents have evolved in other big cities in the country, according to Storia data

At the country level, in April 2024, compared to April 2023, there were stagnations and increases in the average prices requested for all categories of apartments for rent.
The biggest increase from one year to another, in the category of average rental prices, was registered in Arad, where studios had a 24% increase. The biggest increase from one month to another (April 2024 vs. March 2024) was 8%, for three-room apartments in Constanța. Instead, the biggest price drop from one month to the next was recorded in Sibiu, for three-room apartments (-7%). Cluj-Napoca is the only city where average rental prices stagnated in April vs. March, for all categories of apartments.

CLUJ-NAPOCA

In April 2024, the average prices requested for renting studios and apartments with two or three rooms remained constant compared to those of the previous month.
Compared to April 2023, average rental prices increased by 6% for studios, 10% for two-bedroom apartments and 17% for three-bedroom apartments.
Thus, in April 2024, the average rental price of studios was 350 euros, while two-room apartments were rented, on average, for 550 euros, and three-room apartments were rented for an average price of 699 euros, the prices being similar to those of March.

IASI

In April 2024, the average prices requested for renting apartments in Iasi varied.
Compared to April 2023, the average asking prices in April 2024 increased for both studios (+13%) and two-room apartments (+8%), while the price for renting three-room apartments remained constant.
Thus, in April 2024, the average rental price of studios was 320 euros, while two-room apartments were rented, on average, for 430 euros, and three-room apartments were rented for a average price of 500 euros.

BRAŞOV

In April 2024, compared to March 2024, average asking rental prices remained constant for studios and three-room apartments, but decreased for two-room apartments (-2%).
Compared to April 2023, rental prices increased by an average of 17% for studios and 9% for two-bedroom apartments, while prices for three-bedroom apartments stagnated.
Thus, in April 2024, the average price for renting studios was 350 euros, while two-room apartments were rented, on average, for 490 euros, and three-room apartments were rented for 600 euros .

CONSTANT

In April 2024, compared to March 2024, studio rental prices increased by 9%, while three-bedroom apartment rental prices increased by 8%. In the case of two-room apartments, prices have stagnated.
Compared to April 2023, the average rent price increased by 23% in the studio category and by 8% in three-bedroom apartments, while the prices of two-bedroom apartments remained the same.
Thus, in April 2024, the average rental price of studios was 350 euros, while two-room apartments were rented, on average, for 500 euros, and three-room apartments were rented for 650 euros.

TIMISOARA

In April 2024, prices of two- and three-bedroom apartments stagnated compared to the previous month, while studio prices increased by 6%.
Compared to April 2023, average rents were higher in April 2024 both for studios (+15%), but also for two-room apartments (+8%) and three-room apartments (+17%).
Thus, in April 2024, the average rental prices were 265 euros for studios, 400 euros for two-room apartments and 480 euros for three-room apartments.

SIBIU

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.

ORADEA CITY

Compared to March 2024, average asking prices in April 2024 for rentals increased for studios (+1%) and three-room apartments (+4%), but remained constant for two-room apartments.
Compared to April 2023, average asking prices in April 2024 increased by 19% for studios, 21% for two-bedroom apartments and 27% for three-bedroom apartments.
Thus, in April 2024, the average rental price of studios was 218 euros, while two-room apartments were rented, on average, for 400 euros, and three-room apartments were rented for 470 Of euro.

CRAIOVA

In April 2024, compared to March 2024, average rental prices stagnated for two-room apartments, but increased for studios (+6%) and three-room apartments (+2%).
Compared to April 2023, average asking prices in April 2024 increased for studios (+20%), two-room apartments (+21%) and three-room apartments (+30%).
Thus, in April 2024, the average rental price of studios was 300 euros, while two-room apartments were rented, on average, for 400 euros, and three-room apartments were rented for 520 euros.

I PLOW

Compared to March 2024, average asking prices in April 2024 increased for studios (+5%), but also for three-room apartments (+4%), while rental prices for two-room apartments decreased (-4%).
Compared to April 2023, the average asking prices in April 2024 increased for all housing categories, as follows: studios (+24%), two-room apartments (+6%), three-room apartments (+9%).

Thus, in April 2024 the average rental price of studios increased to 210 euros, while two-room apartments were rented for an average of 350 euros, and three-room apartments were rented for a price average of 490 euros.
The analysis was carried out by Storia – the real estate platform launched by OLX, as part of the “Smart Home Road” initiative, through which the brand aims to contribute to the transparency of the necessary information for all buyers, tenants, owners, agents and developers, with the aim of you support making informed real estate decisions.