Apartments in Romania are in high demand, especially in university towns where students are searching for suitable accommodation. The rental market is currently experiencing a significant increase in demand, driven by the influx of students looking for housing at the beginning of the new academic year. This surge in demand has led to a competitive rental market, with prices increasing by up to 20%. The most sought-after apartments are studios and two-bedroom units, with new apartments garnering the most interest. However, location and proximity to universities, especially in university centers, also play a crucial role in the desirability of an apartment.
In Romania, there are four areas where the average monthly rent for an apartment is at least 1,000 euros. Unsurprisingly, three of these areas are in the capital city, Bucharest. However, a surprising addition to the list is Brasov, a city that surpasses Cluj-Napoca and completes the list. The most expensive rental area in Brasov is Calea Poienii, according to the imobiliare.ro platform.
Prices have remained relatively stable in the first half of August compared to those in July, but there have been increases in Bucharest, Cluj-Napoca, and Brasov. Rental prices have increased compared to the same period last year, with landlords raising the amounts requested for studios by 7%-14% in major cities. The increase for two-bedroom apartments has been up to 16%, while three-bedroom apartments have seen a 5%-17% increase compared to last year.
Despite some of the largest price increases in the past year in Timisoara across all categories of apartments, the city remains the most affordable for those who prefer renting over buying.
In Iasi, most neighborhoods have average rental prices below 400 euros per month. However, the central area of the city commands higher prices, with an average monthly rent of 500 euros. The most sought-after neighborhoods in Iasi include Copou-Sararie, Tatariasi, and Pacurari-Canta, where the average rent for an apartment is 450 euros per month.
In Cluj-Napoca, there have been some increases in rental prices for three-bedroom apartments this month. Landlords are now asking for an average of 699 euros per month, 24 euros more than in July. For studios and two-bedroom apartments, rents have remained stagnant compared to the previous month and have increased by 9% and 10%, respectively, compared to last summer.
In Brasov, landlords have slightly increased rents for two-bedroom apartments, with the average rising from 490 euros in July to 499 euros in the first half of August. The rental prices in some of the most expensive areas in the city rival those in Bucharest and Cluj-Napoca. Calea Poienii is the fourth most expensive area in the country for renters, with an average of 1,000 euros per month, surpassing the city center of Cluj-Napoca, where apartments rent for 650 euros per month.
Timisoara stands out as a city with low rental prices. In the most expensive area, you pay 1,000 euros less than in Bucharest. The Cetate area can be considered the most expensive, but even here, you only pay 450 euros per month for an apartment, which is 1,050 euros less than if you were to choose the exclusive Primaverii neighborhood in Bucharest.
In Constanta, the rental market has remained stable in the first half of August, with prices similar to those in July. The budget required for renting a studio is 301 euros per month, while for a two-bedroom apartment, tenants pay an average of 450 euros per month. The highest rents are for three-bedroom apartments, with tenants needing to pay around 600 euros per month.
Overall, the rental market in Romania is dynamic and varies significantly across different cities and neighborhoods. Prospective tenants should carefully consider their budget and preferences when searching for an apartment, as prices and availability can fluctuate based on location and market conditions.