ROMANIAN RESIDENTIAL

MARKET REPORT

Q4 2021
91% OF ROMANIANS KNOW ABOUT IMOBILIARE.RO*
and 75% of the users are happy with their experience and would use it again.
Imobiliare.ro is the first real estate portal in Romania, being one of the
first 100 .ro pages launched.

OVER 1,900 AGENCIES AND PROPERTY DEVELOPERS

are present, with over 153,000 properties on the platform. 79% of the partners see
Imobiliare.ro as an essential channel for online promotion of the properties
within the portfolio.

WE FIND THE CLIENT FOR YOUR PROPERTY

using artificial intelligence, to search for your client in a complex ecosystem
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Libertatea, Unica, etc.)

QUALITY LEADS - ONGOING ASSISTANCE

You have you own contact person and an entire specialized team to support you.

THE IMOBILIARE.RO INDEX - A REFERENCE IN THE FIELD

We are the most frequently quoted source for statistical data. Numerous banks, all
Romanian periodicals and televisions, as well as National Institute of Statistics (INS)
or the Stock Exchange, use the Imobiliare.ro Index *

*Market survey conducted by Imobiliare.ro in 2020

CONTENTS

4 QIV 2020 vs. QIV 2021

8 Residential price index
9 Evolution of residential prices
10 Prices of apartments for sale by areas
13 Time on market and negotiation margin
14 Demand for apartments and houses
17 Property sales nationwide
20 Number of properties for sale in the major cities
21 Apartments and houses newly-entered
23 Residential constructions
26 Residential rental market-demand
28 Rental market
31 About us
 DEMAND

QIV 2020 qIV 2021

Demand for residential property
purchases in six major cities
(source Imobiliare.ro)

132,000 134,000
potential buyers potential buyers

Real estate properties sold nationwide

(source: NACLR)

223,200 192,800
Sold real estate properties Sold real estate properties

Of which, individual units:

50,200 48,500
Individual units sold Individual units sold

Balance of housing loans granted

to the population nationwide
(source: NBR)

89.2 mld lei

balance in Dec. 2020
100.7 mld lei
balance in Dec 2021

Net nominal average salary

(source: INS)

3,620 lei
Dec. 2020
3,645 lei
Nov. 2021

Unemployment rate
(source: INS, according to BIM definition)

4,8%
Dec 2020
5,6%
Dec 2021
 SUPPLY

qIv 2020 qIv 2021

Sales offer, existing (old) properties,
in six major cities
(source Imobiliare.ro)

13,700 11,600
Apartments and houses
Apartments and houses
for sale for sale

Supply for rent in six major cities

(source: Imobiliare.ro)

25,500
Apartments and houses
18,100
Apartments and houses
for rent for rent

Supply for sale, new properties Bucharest

(source Imobiliare.ro)

14,600 18,000
Apartments in 390 Apartments in 460
residential projects residential projects

Newly-built housing nationwide

(source: INS)

18,725 18,266
QIII 2021
QIII 2020

Number of residential building

permits nationwide
(source: INS)

11,458 13,061
Sep - Nov 2021
Sep - Nov 2020
 PRICES AND COSTS

qIv 2020 qIv 2021

Quarterly rate of changes in prices for
residential properties for sale, nationwide
(surce Imobiliare.ro)

+1.8%
QIV 2020 vs QIII 2020
+3.4%
QIV 2021 vs QIII 2021

Annual rate of changes in prices for

residential properties for sale, nationwide
(source Imobiliare.ro)

+3.5%
QIV 2020 vs QIV 2019
+12%
QIV 2021 vs QIV 2020

Annual rate of changes in prices for residential properties

for sale, nationwide - existing (old) properties
(source Imobiliare.ro)

0%
QIV 2020 vs QIV 2019
+11.8%
QIV 2021 vs QIV 2020

Annual rate of changes in prices for residential properties

for sale, nationwide - new properties
(source Imobiliare.ro)

+5.7%
QIV 2020 vs QIV 2019
+16.5%
QIV 2021 vs QIV 2020

Cost index in constructions for residential

buildings nationwide
(2015 = 100, source: INS)

136.4
Oct. 2020
161.2
Oct. 2021
REAL ESTAT E RE M A I N S PR O B A B LY T H E MO ST
POPUL A R I NVE ST ME N T S O LUT I O N

new housing units, coupled with the pressure exerted by

demand.

The start of the year has come with added caution in the
behaviour of certain developers who, because of the racing
growth of construction costs, put a stop to sales in construction
site stage and are now building “in stock” and postponing sales
until the final execution stage, when they have a clear view of
the final cost and when they can control the margins based on
the “readymade” sale price.

In a more pessimistic price evolution scenario, taking into

account the increase of over 100% in the past year for a
significant part of the key components of construction
materials - such as, for instance, iron, wood, glass, brick, and
others - we can even encounter growth of more than 20% in
some cities and in some segments of the real estate market.

However, real estate continues to be one of the most popular

2022 is and will remain a year marked by the pandemic - a
vehicles for value and capital conservation over time, which will
phenomenon which has already incurred generalized inflation
continue to attract all kinds of investments - from personal and
at the level of the global economy, unprecedented in global
family investors to global institutional investors - which will
history.
exert additional pressure on the market.

As a result, the inflation phenomenon is also experienced in

Thus, 2022 will be an interesting year, marked by uncertainty,
Romania, generating, beyond the basket of goods, a significant
but with numerous potential opportunities for the players who
increase in the price of construction materials and fuels.
are informed and have a risk appetite - for which reason I
consider it necessary to consult a professional real estate
This phenomenon that has already been present in our lives -
agent, hired for exclusive representation, who can thus have a
inflation - will be doubled, in terms of effects, by the recent
decisive contribution to the performance of a successful
explosive increase in the price of electrical energy and gas,
transaction. This is where the RE/MAX agents are a first option,
which will impact all branches of economy and, implicitly, a
as part of the largest national and global network of
dominant part of the cost components in constructions.
professional realtors.

Although it is hard to anticipate, based on the information

Răzvan Cuc
collected from the over 800 RE/MAX members active at the
President of RE/MAX România
level of the entire real estate market, we can see, for 2022, a
significant increase in the prices of new apartments, of over
10% on average, and the remaining part of the real estate
market is to follow this trend.

Another element which also contributes to price increase in

the major cities originates from the red tape which developers
claim to be fostered by local administrations - city halls and
county councils - and which severely hinders the issuing of
construction permits, thus impeding the delivery rate for the

7
 R ESIDE N TI A L PRI CE I N D EX

Taking into account the fact that demand for housing has
remained at a high level, in spite of the situation incurred
by COVID-19, the local residential market has continued its
upward trend in the fourth quarter of 2021, as well. Thus,
the data centralized on the Imobiliare.ro portal reveals
that, in the October-December period, list prices for
residential properties in Romania (apartments, as well as
houses) registered a 3.4% increase, compared to the
previous quarter.
Worth mentioning is the fact that, in last year’s final
quarter, the claims of housing property sellers registered a
2.8% increase, after the price growth recorded in the two
previous quarters, of 3.1% (in Q2 2021) and, respectively,
2.2% (in Q1 2021). Thus, after the increase registered strictly
during the state of emergency, asking prices for the
housing properties available for sale in Romania had a
quarter of stabilization, followed by 15 months of unabated
growth.
As far as trading values for housing properties in the
European Union (EU) are concerned, the most recent
official data, published by Eurostat, indicate, for the third
quarter of 2021, a 3.1% increase compared to the three
previous months and, respectively, an added 9.2%
compared to the similar period of last year. On the other
hand, statistics for Romania indicate a 0.1% growth from
the previous quarter, whereas the price difference over 12
months stood at 5.9%. By comparison, in the second
quarter of last year, the official data indicated a quarterly
growth of 1.6% in selling prices on the native residential
market.

“In lastun
După year’s
trimestru
third quarter,
de stabilizare
the annual
consemnat
growth înmargin
urma ieșirii
in trading
din starea
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urgență,
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pretențiile vânzătorilor
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was
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au consemnat
below the12one
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at –
cea mai semnificativă
European level.” evoluție pozitivă având loc în T2 2021.

Residential price index (2015=100), quarterly data

250

Imobiliare.ro Q4-2021: INS Q3-2021:

200 QoQ +3.4% ↑ QoQ +0.1% ↑
YoY +12% ↑ YoY +5.9% ↓

150

100

50
1

4
1

Q1

Q4

-Q

-Q

-Q

-Q

-Q

-Q
-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

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-Q

-Q

-Q
-Q

-Q

-Q

-Q

-Q

-Q

-Q
-Q

-Q

-Q

-Q
11-

11-

16

19
10

18
12

13

15

21
04

14

17

20
06

07

09
05

08

16

19
10

12

15

18
13
04

14

17

21
20
06

07

09
05

08

20

20

20

20
20

20
20

20
20
20

20

20

20
20

20

20
20

20
20

20
20

20
20

20

20
20
20

20

20
20

20
20
20

20
20
20

Romania (Imobiliare.ro) Bulgaria Czech Republic Source: Imobiliare.ro

European Union (Eurostat) Hungary

Romania (INS) Poland

8
 EVOLUT I ON O F RE S I D E N T I A L
PR OPERTY PRI CE S

The fact that prices for housing properties have managed
to maintain an upward course for over 12 months, in spite
of the difficult context incurred by the COVID-19 epidemic,
proves that the market is supported by solid demand.
Market players expect that the growth trend will be
maintained for the remaining part of the year, as well,
given the increase in the price of construction materials,
corelated with the difficulties encountered in developing
new real estate projects. These specific factors in the field
of real estate must be corelated with social and economic
aspects, such as price growths in the food and energy
sectors, which have the capacity to limit the population’s
buying power.
With regard to the annual price difference, which is
another indicator important for the evolution of
residential property prices, reached a value of +12% in the
fourth quarter of 2021 - marking a growth of 1.7% from the
previous three months, when it stood at +10.3%. The lowest
value of this indicator over the past six years had been
attained in the first three months of last year, respectively
+3%. The current level is the highest registered by this
indicator since the second half of 2017.

“In spite
„După ceofathe
atins
fact
unthat
minimum
a minimum
al ultimilor
value șase
over ani
the în
past
primul
six years
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din 2021,in
diferența
the first quarter
de prețoflalast
12 luni
year,
s-a
inmajorat
Q4 2021,șithe
în T3
price
2021,
difference
nivel actual
overfiind
12 months
mai ridicat
reached
decât
the highest
cel consemnat
level in over
înainte
four years.”
de declanșarea pandemiei.”

Quarterly rate of change in prices

50

40
Average over the last four quarters
30

20

10

-10

-20

-30

-40
1

4
Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q
Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q
6-

7-

8-

9-
6-

7-

9-

10

11

12

13

14

15

16

17

18

19

20

21
8

10

11

12

13

14

15

16

17

18

19

20

21
0
0

0
0

20

20
20

20

20
0

20
0

20

20
0

20
20

20
20

20
20
20

20
20

20

20

20
20

20
20

20
20
20

20

20
20
20

20
20

20
Average over the last four quarters
15

10

-5

-10

-15

-20
1

4
Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q
Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q

-Q
6-

7-

8-

9-
6-

7-

9-

10

11

12

13

14

15

16

17

18

19

20

21
8

10

11

12

13

14

15

16

17

18

19

20

21
0
0

0
0

20

20
20

20

20
0

20
0

20

20
0

20
20

20
20

20
20
20

20
20

20

20

20
20

20
20

20
20
20

20

20
20
20

20
20

Source: Imobiliare.ro

9
 Asking prices in the major cities - apartments for sale

Following the upward trend in the price of residential
properties noticed nationwide, all 11 major cities (having
more than 200,000 inhabitants) constantly monitored by
Imobiliare.ro registered, in the final quarter of 2021,
increases in the average amount asked upon selling an
apartment. Unlike the three previous months, only one city
registered a growth margin of more than 4%.
More specifically, the most significant quarterly growth,
respectively 5%, was registered by Cluj-Napoca, followed by
Brașov, with a recorded price growth of 3.7%. The next
places in the national classification of price increases are
held by Iași (+2.9%), Brăila (+2.8%), Ploiești (+1.6%), Constanța
(1.5%), Timișoara (+1.4%), Craiova (+1.2%), Galați (+0.8%),
Bucharest (0.7%) and, respectively, Oradea (0.5%).
Following the progressions recorded in the fourth quarter
of 2021, some changes occurred in the first half of the
national classification of the major regional centres,
according to apartment prices (new and old). Thus,
Cluj-Napoca continues to hold the first position in the
classification (with an average of EUR 2,060 per net square
metre), at a considerable distance from Bucharest (at EUR
1,640 per square metre), the two cities being followed by
Brașov (EUR 1,430 per square metre) and by Constanța (EUR
1,380 per square metre). The fifth place is held by Timișoara
(at EUR 1,340 per square metre), followed by Craiova (EUR
1,300 per square metre), as well as by Iași (EUR 1,170 per
square metre), which has surpassed Oradea (EUR 1,160 per
square metre).
Worth noting is also the fact that Galați maintains its spot in
the classification of cities having over 200,000 inhabitants
and apartments of minimum EUR 1,000 per net square
metre, with an average list price of EUR 1,030 per square
metre in Q4 2021. However, this psychological threshold has
also been attained by Ploiești (EUR 1,020 per square metre),
currently only leaving Brăila below this level (at EUR 920 per
square metre).
Compared to the similar period of the previous year, the
Imobiliare.ro data only indicates increase in the asking
prices of sellers from the major cities. The most significant
growth was seen in Brașov (+16.9%), and two-digit growth
margins were also registered in Cluj-Napoca (+13.6%),
Bucharest (+11.7%), Constanța (+10.6%) and, respectively,
Craiova (+10%). Next in the price growth classification are
Oradea (+9.5%), Iași (+8.7%), Ploiești (+7.9%), Brăila (+6.8%),
Galați (+6.3%) and, respectively, Timișoara (+5.5%). Compared
to two years ago, the highest price difference, respectively
+23.7%, can be noticed in Brașov, whereas Cluj-Napoca
ranks second, with 22.2%, and the Capital is fourth, at +17.8%,
after Craiova (+18.7%).

Price trends across main cities - apartments for sale

22.2%
21,4% 17,8%
17.8% 23.7%
21,8% 16.5%
17,1% 7,9%
8.1% 18,2%
18.7% 16,4%
15.1% 15.8%
12,5% 12.4%
13,4% 10.8%
10,2% 14,1%
11.2%

13.6%
8,8% 13,2%
11.7% 14,8%
16.9% 10.6%
9,6% 4,4%
5.5% 9,7%
10% 10,3%
8.7% 6,3%
9.5% 6.3%
7,5% 6,5%
7.9% 4,8%
6.8%

3,9%
5% 0.7%
3% 4,5%
3.7% 3,4%
1.5% 1.4%
1,1% 1.2%
2% 4,5%
2.9% 2,4%
0.5% 0.8%
1% 2,4%
1.6% -0,2%
2.8%

2,060 1,640 1,430 1,380 1,340 1,300 1,170 1,160 1,030 1,020 920

Cluj-Napoca Bucharest Brașov Constanța Timișoara Craiova Iași Oradea Galați Ploiești Brăila

Price change over last 2 years % Source: Imobiliare.ro

Price change over last 3 months %
Price change over last 12 months % Median price per sq.m. (€)

10
PR I C E S OF APA RT MENTS FO R SALE
BY A R EAS

Bucharest:
In the Capital, the most expensive apartments are found,
naturally, in the central and ultracentral area, where the
average list price stands at EUR 2,378 per net square
metre, after a quarterly advance of 2.4% and an annual
advance of 6.8%. In the areas close to the centre, such
housing is listed for sale at EUR 1,738 per square metre,
after an added 0.3% over three months and, respectively,
10.3% over 12 months. In the outskirts, the sellers’ average
asking price is of EUR 1,426 per net square metre, down by
-0.2% compared to the previous quarter and, respectively,
up by 10.5% compared to Q4 2020.
Cluj-Napoca:
In the city located on the Someș river, apartments listed
for sale in the central and ultracentral area cost, on
average, EUR 2,455 per net square metre, after a quarterly
advance of 3.9% and an annual advance of 12.8%. In the
area close to the centre, a housing property in a block of
flats has an average list price of EUR 2,208 per square
metre (+4.6% over three months and, respectively, +15.2%
over 12 months). In the city’s outlying areas, the sellers’
claims stand at EUR 1,903 per net square metre, 5.7%
higher than in the previous three months and,
respectively, 13.5% higher than in the similar period of
2020.
Timișoara:
In the city located on the Bega river, housing in the central
and ultracentral area can be purchased, on average, at
EUR 1,500 per net square metre, after a 1.6% growth over
three months and, respectively, 1.6% over 12 months. In the
areas close to the centre, an apartment is available for sale
at EUR 1,340 per square metre, after an increase of 1% over
three months and, respectively, 5.6% over 12 months. In the
outskirts, the sellers’ average asking price is of EUR 1,328
per net square metre, up by 1.5% compared to the previous
quarter and, respectively, by 5.1% compared to Q4 2020.
Iași:
In the city located in the North-Eastern part of the country,
apartments in the central and ultracentral area have an
average list price of EUR 1,708 per net square metre, after
a quarterly advance of 3.5% and an annual advance of
11.5%. In the areas close to the centre, such housing is listed
for sale at EUR 1,184 per square metre, after an added 3%
over three months and, respectively 8% over 12 months. In
the outskirts, the owners’ average asking price is of EUR
1,161 per net square metre, up by 2.6% compared to the
previous quarter and, respectively, up by 8.1% compared to
Q4 2020.

Bucharest Timișoara

6.8% 10.3% 10.5% 1.6% 5.6% 5.1%

2.4% 0.3% -0.2% 1.6% 1% 1.5%
2,378 € 1,738 € 1,426€ 1,500 € 1,340 € 1,328 €
Ultracentral/Central Semicentral Periphery Ultracentral/Central Semicentral Periphery

Cluj-Napoca Iași

12.8% 15.2% 13.5% 11.5% 8% 8.1%

3.9% 4.6% 5.7% 3.5% 3% 2.6%
2.455€ 2,208 € 1,903 € 1,708€ 1,184 € 1,161 €
Ultracentral/Central Semicentral Periphery Ultracentral/Central Semicentral Periphery

Annual change
Quarterly change Source: Imobiliare.ro

11
PR I C E S OF APA RT MENTS FO R SALE
BY A R E AS

Constanța:
In the city located in the South-Eastern part of the country,
apartments listed for sale in the central and ultracentral
area cost, on average, EUR 1,467 per net square metre,
given a quarterly setback of -0.9% and, respectively, an
annual increase of 10.1%. In the areas close to the centre,
such housing has an average asking price of EUR 1,433 per
square metre, after an added 1.7% over three months and,
respectively, 10.8% over 12 months. In the outskirts, the
sellers’ average asking price reaches EUR 1,231 per net
square metre, up by 2.5% compared to the previous
quarter and, respectively, by 8.2% over 12 months.
Oradea:
In the city located in the North-Western part of the
country, apartments in the central and ultracentral area
can be purchased, on average, at EUR 1,186 per net square
metre, after a 4% growth over three months and,
respectively, 8.6% over 12 months. In the areas close to the
city centre, the average asking price for this market
segment stands at EUR 1,155 per square metr s’ average
asking price is of EUR 1,117 per net square metre, down by
-2.8% compared to the previous quarter and, respectively,
up by 4.8% compared to the similar period of the previous
year.

Brașov:
In the city located at the foot of Tâmpa mountain, housing
in the central and ultracentral area have an average list
price of EUR 1,600 per net square metre, after a 4.8%
growth over three months and, respectively, 20.8% over 12
months. In the areas close to the centre, an apartment is
available for sale for EUR 1,415 per square metre, after an
increase of 3.5% over three months and, respectively, 16.1%
over 12 months. In the neighbourhoods located in the
outskirts, the sellers’ average asking price is of EUR 1,377
per net square metre, up by 3.1% compared to the previous
quarter and, respectively, by 15.4% compared to Q4 2020.
Craiova:
ÎIn Oltenia’s capital city , apartment sellers from the
central and ultracentral area claim, on average, EUR 1,563
per net square metre, given a quarterly increase of 14%
and, respectively, an annual increase of 13.8%. In the areas
close to the centre, the list price for such a housing
property is EUR 1,302 per square metre, after an added
0.5% over three months and, respectively, 12.3% over 12
months. In the neighbourhoods located in the outskirts,
the average asking price is of EUR 1,351 per net square
metre, down by -1.3% compared to Q2 2021 and,
respectively, up by 10.5% compared to Q4 2020.

Constanța Oradea

10.1% 10.8% 8.2% 8.6% 8.7% 4.8%

-0.9% 1.7% 2.5% 4% 1.3% -2.8%
1,467 € 1,433 € 1,231€ 1,186 € 1,155 € 1,117 €
Ultracentral/Central Semicentral Periphery Ultracentral/Central Semicentral Periphery

Brașov Craiova

20.8% 16.1% 15.4% 13.8% 12.3% 10.5%

4.8% 3.5% 3.1% 14% 0.5% -1.3%
1,600€ 1,415 € 1,377 € 1,563€ 1,302 € 1,351 €
Ultracentral/Central Semicentral Periphery Ultracentral/Central Semicentral Periphery

Annual change
Quarterly change Source: Imobiliare.ro

12
T IME ON M A RK E T A N D N EG OT I AT I O N MA R G I N
FOR APA RT M E N TS FO R S A L E

In four of the six major regional centre subject to analysis, With regard to the negotiation margin, seen as the
the average time on market for an apartment was lower difference between the last asking price and the trading
last quarter, compared to the similar period of the value of an apartment, the Imobiliare.ro data indicates
previous year. The lowest value of this indicator is that, compared to the similar period of last year, increase
registered in the Capital, where the time needed for has been registered in all the major cities subject to
trading such a housing unit was of 38 days in the October analysis. This indicator reached the 4% threshold in
- December 2021 interval. At the opposite pole, the highest Bucharest (given that it stood at 2% in Q4 2020), whereas
time on market, respectively 84.5 days, was registered in in Timișoara it reached 3% (compared to 1% one year
Cluj-Napoca (down from approximately 86.5 days before). This indicator stands at the 3% level in
recorded 12 months before), whereas Constanța and Cluj-Napoca, Brașov and Constanța, as well; on the other
Timișoara are quite close, at 64, respectively 59 days. In Iași, hand, in Iași, the owners’ availability for negotiation drops
the time needed to trade an apartment reaches 46.5 days, to 2%.
compared to 39.5 days in Brașov.

Time on market (days)

100
90
80
Q4 2020 Q4 2021
70
60
50
40
30
20
10
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j-

Ti

B
C

lu
C

Negotiation margin
(% the difference between the transaction price and the last asking price)

4.0%
Q4 2020 Q4 2021
3.5%
3.0%
2.5%
2.0%
1.5%
1.0%
0.5%
0%
t
a

ța

ov

și

a
es
oc

r
Ia

oa
an

ar
ra
ap

ch

iș
st

m
N

on

u
j-

Ti
B
C
lu
C

Source: Imobiliare.ro

13
 DEMAN D FOR RE S I DE N T I A L PR O PE RT I E S
FOR SAL E (apartments and houses)
Against the background of the harsher restrictions related
to COVID-19, demand for residential properties
(apartments and houses available for sale) stood, in Q4
2021, at a lower level than the one registered in the three
previous months. Thus, approximately 134,000 potential
buyers searched, on Imobiliare.ro, for housing in the
country’s six main regional centres, compared to 152,000
in the previous quarter. The decrease of almost 12% can
also be explained, of course, by the market-specific
seasonal nature, as it is a known fact that, towards the end
of the year, the trading activity volume is lower.
Reported to Q3 2021, interest in the purchase of residential
properties recorded, in all six major regional centres
constantly monitored by Imobiliare.ro, a downward trend.
In this regard, the highest drop was recorded in
Cluj-Napoca, where this indicator decreased by 20.2%
(down to 10,800 potential buyers).
Lower decrease margins were registered in Constanța
(-18.8%, down to 10,400 unique visitors), Iași (-16.9%, down
to 10,100 unique visitors), Brașov (-16.1%, down to 11,500
potential buyers) and, respectively, in Timișoara (-13.6%,
down to 12,700 interested persons). Bucharest is,
practically, the only city where the quarterly decrease in
demand was lower than 10% - more specifically, this is
where a 7.9% decrease was registered, down to 78,700
visitors.
However, compared to the similar period of last year,
interest in the procurement of housing was, in the final
quarter of 2021, 1% higher at the level of the six regional
centres subject to analysis. In this regard, three cities
registered a decrease, respectively Constanța (-9%),
Timișoara (-2%) and Cluj-Napoca (-1%). On the other hand,
demand increased over the past 12 months in Iași (+5%),
Brașov (+4%) and, respectively, Bucharest (+3%).

Demand for residential properties for sale

houses and apartments - new and old

TOTAL

78,700 12,700 11,500 10,800 10,400 10,100 134,200

Bucharest Timișoara Brașov Cluj-Napoca Constanța Iași

3% -2% 4% -1% -9% 5% 1% Change over last 12 months %

-7.9% -13.6% -16.1% -20.2% -18.8% -16.9% -11.9% Change over last quarter %

* By demand, we refer to the potential buyers who generated Leads A lead is recorded when a visitor performs an action (views the
for sale properties on the Imobiliare.ro portal, in a certain period. phone, sends an email to request more details, prints or saves your
ad).

Source: Imobiliare.ro

14
DEMAN D FO R RE S I DE N T I A L PR O PE RT I E S
FOR SA LE (Bucharest + Cluj-Napoca)
Looking at the progress registered in terms of demand for
housing (apartments and houses) in Bucharest, we can
see that this indicator started the year 2021 on a level
similar to that of 2020, nearing the threshold of 50,000
potential buyers, compared to less than 40,000 at the start
of 2019. However, unlike last year, when a downward trend
was seen as early as in February, in the first half of last year,
interest in the procurement of housing was, practically,
maintained stable. What is interesting to note is that,
starting in July, this indicator stood at a very close level
since 2019 - with the note that, in 2020, demand was
propelled by the break from the emergency period.
In Cluj-Napoca, interest in the procurement of housing
was, at the start of 2021, lower than in 2020, but higher
than in the similar period of 2019; thus, Imobiliare.ro
recorded a little less than 7,000 potential buyers,
compared to approximately 9,000 one year before and,
respectively, 6,000 two years before. Like in Bucharest, the
demand curve was much more stable throughout last
year and, at the end of the year, this indicator stood at a
level very close to the one reached in 2019 and 2020. unlike
the Capital, the level of demand was significantly higher in
the second half of 2019, compared to both 2020, and 2021.

Bucharest
60.000

50.000

40.000

30.000

20.000

10.000

Jan Feb Mar Apr Mai Jun Jul Aug Sep Oct Nov Dec

2019 2020 2021

Cluj-Napoca
10.000

8.000

6.000

4.000

2.000
Jan Feb Mar Apr Mai Jun Jul Aug Sep Oct Nov Dec

2019 2020 2021

Source: Imobiliare.ro, potential buyers

15
DEMAN D FOR RE S I DE N T I A L PR O PE RT I E S
FOR SAL E (Timișoara + Iași)
In Timișoara, as well, demand for residential properties
was, at the start of 2021, lower than in 2020, but higher
than in 2019: Thus, Imobiliare.ro registered almost 8,000
potential buyers in January, compared to approximately
9,000 twelve months before and, respectively, less than
6,500 two years before. Interest in the procurement of
housing was maintained quite constant throughout the
course of last year, although, for the most part, below the
level registered in 2019 - and in the fall, it dropped below
the 2020 level. However, the level of demand was aligned,
at the end of the year, with the levels associated to the two
previous years.
At the start of 2021, interest in the procurement of housing
properties in Iași stood at a lower level, compared to 2020,
but higher than in 2019; thus, the largest local portal of real
estate ads registered approximately 5,500 potential
buyers in January 2021, down from the approximately
7,000 from the similar period of 2020, but on the increase
from the approximately 5,700 visitors from the start of
2019. On the Iași market, demand for residential properties
was also characterized by an evident stability during the
course of last year. Towards the end of the year, this
indicator registered decrease, but the evolution can be
considered to be seasonal, just like in the two previous
years.

Timișoara
10.000

8.000

6.000

4.000

2.000

Jan Feb Mar Apr Mai Jun Jul Aug Sep Oct Nov Dec

2019 2020 2021

Iași
8.000

7.000

6.000

5.000

4.000

3.000

2.000

Jan Feb Mar Apr Mai Jun Jul Aug Sep Oct Nov Dec

2019 2020 2021

Source: Imobiliare.ro, potential buyers

16
REAL ESTATE UNITS SALES, NATIONWIDE

In spite of the difficulties incurred by the COVID-19
epidemic, the year 2021 was characterized, on the whole,
by a positive evolution in terms of sales of housing
properties, compared to 2020, as well as to 2019. Thus, the
data published by the National Agency for Cadastre and
Land Registration (NACLR) indicates that, throughout last
year. 698,756 properties were traded at the level of the
entire country, namely approximately 16% more,
respectively 95,951 properties, compared to the previous
year.
In spite of the generally upward trend, in the fourth
quarter of last year, approximately 192,000 properties were
sold nationwide, down by approximately 14% from the
similar period of last year, when about 223,000 properties
were traded. Worth noting is the fact that, in the individual
units segment, a much lower decrease occurred, of 3.4%,
from approximately 50,000 properties sold to
approximately 48,000.
According to the official statistics, the highest number of
property sales was registered last year in December
(74,429 units) and the lowest number in May (47,773). By
comparison, in the year 2020, the highest number of
transactions was recorded in October (83,675), and the
lowest in April (27,021). Worth mentioning is the fact that,
during the course of 2020, 11.6% more properties were
purchased nationwide (or 62,625 units) compared to 2019,
when 540,180 such operations were registered.

“Although the number of properties sold nationwide was lower in the last quarter of
2021, compared to the similar period of 2020, a positive evolution was registered over
the year, the annual growth margin being of 16%.”

Sold units
90,000

80,000

70,000

60,000

50,000

40,000

30,000

20,000

10,000

0
Jan Feb Mar Apr Mai Jun Jul Aug Sep Oct Nov Dec

2019 2020 2021

Source: ANCPI, data processed by Imobiliare.ro

17
SALES O F I ND IVI D UA L U N I TS
(Nationwide + Bucharest)

With regard to the purchases of individual units, out of
which Imobiliare.ro estimates that approximately 80% are
apartments, the official data indicates a growth trend in
the months of July and August, followed by decrease in
the fall months. Thus, in September, approximately 17,404
such operations were recorded nationwide, 15,749 in
October and 14,335 in November. In December, the
maximum level of sales of individual units was attained,
compared to the entire year: thus, in the last month of the
year, 18,430 such properties were purchased.
comparison, in December 2020, 17,593 properties were
traded, compared to 11,081 in the final month of 2019.
In the capital we can note a growth curve which is very
similar to the one registered at national level with regard
to the trading activity in the individual units segment.
Thus, in August 2021, the number of individual units
purchased at the level of the Capital stood at 5,000,
compared to approximately 2,700 twelve months before
and, respectively, a little over 3,000 twenty four months
before. In September, the volume of purchases on the
Bucharest market reached approximately 5,138, whereas a
By little less than 3,000 were traded in the previous years. In
December of last year, 5,792 properties were purchased,
compared to 5,316 in the same period of 2020, respectively
3,605 in 2019.

Nationwide
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
Jan Feb Mar Apr Mai Jun Jul Aug Sep Oct Nov Dec

2019 2020 2021

Bucharest
6,000

5,000

4,000

3,000

2,000

1,000

0
Jan Feb Mar Apr Mai Jun Jul Aug Sep Oct Nov Dec

2019 2020 2021

Source: ANCPI, data processed by Imobiliare.ro

18
SALES O F I ND IVI D UA L U N I TS
(Ilfov + Cluj counties)

In the individual units segment, in the county of Ilfov, we
can note a different evolution in terms of purchases,
compared to Bucharest, as well as to the situation noticed
at national level. Thus, the results registered in July 2021
indicate the conclusion of 523 such purchases - a figure
which is higher than the one registered in the same
period of 2020 (383) but lower than the level of 2019 (586).
In the following two months, the individual units sales
volume remained above the level registered last year and,
in August, it neared the 2019 value, at 576 traded units. In
September, the procurement curve dropped a little, but it
returned to growth in the following two months.
Unlike the previous three months, interest in the
procurement of individual units in Cluj county stood
below the level reached in 2020 throughout the fourth
quarter of 2020. Thus, the number of properties sold in
October 2021 stood at 991, compared to less than 1,087 in
the same period of the previous year. The trading activity
continued to drop in the second fall month, when 884
individual units were sold, compared to approximately
1,019 in 2020 and, respectively, 686 in 2019. In December
2021, the number of individual units purchased was of
1,150, compared to approximately 1,414 in the similar period
of 2020 and, respectively, 630 in 2019.

Ilfov county
1,000

800

600

400

200

0
Jan Feb Mar Apr Mai Jun Jul Aug Sep Oct Nov Dec

2019 2020 2021

Cluj county
2,000

1,500

1,000

500

0
Jan Feb Mar Apr Mai Jun Jul Aug Sep Oct Nov Dec

2019 2020 2021

Source: ANCPI, data processed by Imobiliare.ro

19
 NUM BE R OF EXI STI N G PR O PE RT I E S FO R S AL E
IN THE M A J OR CI TI E S

Compared to the previous quarter, the total supply of
apartments and houses built before the year 2,000
available for sale in the six major cities under analysis
stood, in Q4 2021, at 11,560 offers, compared to 18,920 in the
three previous months. Against the background of the
situation recorded in healthcare, compared to the similar
period of the previous year, we can note a negative
difference, amounting to 15.6%.
During the course of the past 12 months, almost all major
cities subject to analysis registered decrease in the
residential offer on the market - the decrease margins
being, in most cases, of two digits. Thus, the highest
setback, of approximately 33.9%, was seen in Cluj-Napoca,
where 1,340 residential properties were listed last quarter.
The second place is taken by Iași, with a 29.7% decrease
(down to 760 residential properties), followed
Constanța, with a decrease of approximately 21.9% (down
to a total of 810 ads).
A 19.3% annual decrease was seen in Brașov (where 730
properties were listed),the city at the foot of Tâmpa
mountain being followed by Timișoara (-10.7%, down to
1,860 offers) and, respectively, Bucharest (-7.5%, down to
6,060 offers). Practically, in the analysed period, the lowest
decrease margin was registered in Bucharest, namely on
the country’s largest market in terms of volume.
An overall downward trend can also be noticed with
regard to the number of properties newly placed on the
market, which stood at 5,510 at the level of the six major
cities included in the analysis - namely 14% less than in the
similar period of the previous year. A negative evolution
was registered one more time in all cities, starting from
Cluj-Napoca (-32.4%) and continuing with Iași (-28.9%),
Constanța (-19.2%), Constanța (-22.3%), Oradea (-19.4%), Iași
by (-15.2%), Brașov (-8.6%), Bucharest (-7.8%) and, finally,
Bucharest (-8%).

Properties listed for sale in the major cities in Q4 2021

apartments and houses built before 2000

6,060
New listings
All listings for sale

2,870
TOTAL

1,860 11,560
1,340
5,510
750 720 810 760 730
400 390 380

Bucharest Timișoara Cluj-Napoca Brașov Iași Constanța TOTAL

New listings -7.8% -2.6% -32.4% -8.6% -28.9% -19.2% -14%

All listings for sale -7.5% -10.7% -33.9% -21.9% -29.7% -19.3% -15.6%

Change over last 12 months %

Source: Imobiliare.ro

20
APARTM E NTS A ND H O U S E S N EWLY- E N T E R E D
sold by individuals

With regard to the number of offers for apartments and
houses newly placed in the secondary market (old
properties, sold by their owners), in the Capital we can
note that this indicator remained, in October 2021, below
the levels reached in the similar period of the two previous
years. Thus, in the first fall month of last year,
approximately 1,100 new properties were added in this
segment of Bucharest’s market, compared to over 1,700 in
2019 and, respectively, over 1,800 in 2020. However, in
November and in December, the number of offers in this
category was aligned to the levels registered in the
previous years: thus, in the second fall month of last year,
1,260 new offers were registered and, in December, 812.
Unlike the Capital, the number of new offers on the
secondary residential market in Cluj-Napoca (apartments
and houses sold by owners) stood, in the fourth quarter of
the year, significantly below the level attained in 2019 and
2020. More specifically, in October 2021, approximately 300
new properties were added in this segment of the Cluj
market, compared to over 466 in 2019 and, respectively,
over 500 in 2020. In November 2021, the number of offers
in this category was of 320 ads, compared to
approximately 430 in the similar period of the two
previous years. In December, the number of new ads
dropped towards the threshold of 200 - however, this level
is quite close to the one registered in the previous years.

Bucharest
3,000

2,000

1,000

Jan Feb Mar Apr Mai Jun Jul Aug Sep Oct Nov Dec

2019 2020 2021

Cluj-Napoca
800

600

400

200

0
Jan Feb Mar Apr Mai Jun Jul Aug Sep Oct Nov Dec

2019 2020 2021

Source: Imobiliare.ro, potential buyers

21
APARTM E NTS A ND H O U S E S N EWLY- E N T E R E D
sold by individuals

Except for the month of November, in the fourth quarter
of 2021, the number of apartments and houses
newly-placed on the secondary market was lower than in
the two previous years in the capital city of Moldova, as
well. Thus, in October 2021, approximately 200 new
residential properties were listed in this segment of the
Iași market, compared to over 270 in 2019 and,
respectively, over 240 in 2020. However in November,
although the number of new offers on the market was
practically maintained at its October level, the results
recorded were closer to the ones in 2020 and even better
than those of 2019. In the final month of the year, the
number of new offers placed on the market stood at 119,
compared to 155 in 2019 and, respectively, 187 in 2020.
Just like in the other three major cities subject to our
analysis, the number of old properties newly-placed on
the Timișoara market was lower in October 2021,
compared to the same interval in the two previous years.
More specifically, in the second fall month of last year,
almost 290 new properties entered this segment of the
local market, compared to over 370 in 2019 and 2020. In
November 2021. the number of offers in this category
reached approximately 326, a level similar to the one
registered in the similar period of 2019, but higher than the
one registered in 2020. In the last month of the year, 222
ads entered the market, a level practically identical to the
one recorded in 2019 and 2020.

Iași
400

300

200

100

Jan Feb Mar Apr Mai Jun Jul Aug Sep Oct Nov Dec

2019 2020 2021

Timișoara
800

600

400

200

0
Jan Feb Mar Apr Mai Jun Jul Aug Sep Oct Nov Dec

2019 2020 2021

Source: Imobiliare.ro, potential buyers

22
 RESIDE NT I A L CON ST R U CT I O N S , H O U S I N G
COMPLE T E D

Concerning the construction of housing properties, the when 17,053 housing units were delivered for use.
most recent data published by the National Institute of Compared to the similar period of the previous year, when
Statistics (INS) indicates that, in the third quarter of the 19,326 housing units were delivered nationwide, a drop of
year, a number of 18,266 housing units were completed approximately 5.5% can be noted.
nationwide - a figure indicating a growth of approximately
7% compared to the similar period of the previous year,

30,000

25,000
Average over the last four quarters
20,000

15,000

10,000

5,000

0
QIV 2006
QI 2007
QII 2007
QIII 2007
QIV 2007
QI 2008
QII 2008
QIII 2008
QIV 2008
QI 2009
QII 2009
QIII 2009
QIV 2009
QI 2010
QII 2010
QIII 2010
QIV 2010
QI 2011
QII 2011
QIII 2011
QIV 2011
QI 2012
QII 2012
QIII 2012
QIV 2012
QI 2013
QII 2013
QIII 2013
QIV 2013
QI 2014
QII 2014
QIII 2014
QIV 2014
QI 2015
QII 2015
QIII 2015
QIV 2015
QI 2016
QII 2016
QIII 2016
QIV 2016
QrI 2017
QII 2017
QIII 2017
QIV 2017
QI 2018
QII 2018
QIII 2018
QIV 2018
QI 2019
QII 2019
QIII 2019
QIV 2019
QI 2020
QII 2020
QIII 2020
QIV 2020
QI 2021
QII 2021
QIII 2021
Source: INS, data processed by Imobiliare.ro

23
 RESIDE NT I A L CON ST R U CT I O N S , H O U S I N G
COMPLE T E D

Following the evolution recorded during the course of the Worth mentioning is the fact that, given that the year 2019
third quarter, the number of housing units completed represented a peak in terms of deliveries of new housing
nationwide in the first nine months of 2021 was of 49,621. properties, 2020 practically became the new record in this
This figure indicates a slight growth, of 1%, compared to market segment since the Revolution. Taking into
the similar period of last year, when 49,091 housing units account the fact that the first half of the year marked a
were delivered for use. In 2020, the total volume of growth in housing property deliveries, it is yet to be seen
housing unit deliveries reached 67,816 units, according to whether the upward trend will be maintained, so that 2021
the official data. By comparison, in the previous year, fewer becomes the new record in residential constructions.
housing properties were completed at national level,
namely 67,488.

“Compared to the similar period of the previous year, a growth of approximately

7% in the volume of housing units completed nationwide was registered, up to
18,266 units.”

Annual evolution
80,000
67,816
70,000 67,255 67,488

60,000

50,000
43,587

40,000

30,000

20,000

10,000

0
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020

Source: INS, data processed by Imobiliare.ro

24
 CONSTR U CT I O N PE R MI TS FO R
R ESIDE N TI A L B U I LD I N G S

Another indicator which is important to consider in an
analysis of the evolution of the residential market is the
number of permits issued for the construction of
apartment buildings. According to the most recent data
published by the National Institute of Statistics (INS),
14,663 such approvals were issued nationwide in the third
quarter of 2021. We note the fact that this figure is
equivalent to a slight growth compared to the previous
quarter, when 14,242 construction permits were issued.
Compared to the similar period of last year, when 12,734
permits were granted nationwide, a visibly upward trend
of the analysed indicator can be noted. More specifically,
this concerns a growth of approximately 15% - an evolution
which could be explained by an added trust inspired to
the residential market by
COVID-19-related restrictions, in corelation with the
demand existing on the market.
In spite of the downward trend in the number of permits
issued during the state of emergency, this indicator saw,
over the entire course of 2020, a slight setback, of 3%,
compared to 2019, from 42,541 to 41,311 permits for
residential buildings. Worth mentioning is the fact that
this final result constitutes an obvious improvement from
the mid-year figure, given that the difference compared to
2019 stood, in Q2 2020, at 12%. On the whole, the official
statistics regarding the construction permits issued last
year, as well as in the first nine months of 2021, suggest a
satisfactory evolution of the developers’ activity in the
residential market in the following period.
the lifting of the

20,000
18,000 Average over the last four quarters

16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
2

03

03

05

05

07

07

08

08

09

09

10

10

11

11

12

12

13

13

14

14

15

15

16

16

17

17

18

18

19

19

20

20

21

21
00

00

00

00
00

00

20

20

20
20

20

20

20
20
20

20

20

20
20

20
20

20
20

20
20

20
20

20
20

20

20

20

20

20
20

20

20

20
20

20
2

2
2

Q1

Q3

Q1
Q1

Q1

Q1

Q3
Q3
Q3

Q3

Q1

Q3
Q1

Q1
Q3

Q3
Q1

Q3
Q1

Q1
Q3

Q3
Q1

Q3

Q1

Q3
Q1

Q3

Q1

Q3
Q1

Q3
Q1

Q3

Q1

Q3
Q1

Q3
Q1

Q3

Source: INS, data processed by Imobiliare.ro

Annual evolution
70,000

60,000

50,000

40,000

30,000

20,000

10,000

0
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

25
 RESIDE N TI A L RE NTA L MA R K E T - D E MA N D

Although remote work (or the “hybrid” version) is
maintained on the labour market, the data centralized by
Imobiliare.ro indicates that demand for apartments and
houses for rent stands, on the whole, at a slightly higher
level, compared to the similar period of last year, at least at
the level of the six major regional centres monitored. Thus,
in the October-December period, approximately 61,000
visitors searched for housing for rent on the portal, up by
7% compared to the similar interval of 2020.
Worth noting is the fact that five out of six major cities
subject to analysis registered growth, and a decrease was
only registered in Timișoara. Thus, higher interest in this
market segment was seen in Constanța (+14%) and Iași
(+14%), followed by Cluj-Napoca (+8%), Bucharest (+7%)
and, respectively, Brașov (+2%). On the other hand, the
demand for housing for rent was reduced in the capital
city of the Banat region by 3%, compared to the similar
period of last year.
With regard to the gross volume of demand existing in
this market segment, Bucharest naturally holds the first
position in the classification, at a considerable distance
from the other major cities, where 37,500 potential renters
are registered in Q4 2021. The next places are held by
Timișoara, with 5,500 visitors interested in properties for
rent, then by Constanța (with 4,900), Cluj-Napoca (4,800),
Brașov (with 4,300) and, respectively, Iași (with 4,000
potential clients).

Demand for residential properties for rent

houses and apartments - new and old

TOTAL

37,500 5,500 4,900 4,800 4,300 4,000 61,000

Bucharest Timișoara Constanța Cluj-Napoca Brașov Iași

7% -3% 14% 8% 2% 14% 7% Change over last 12 months %

-1% -10% -7% -2% -1% 7% -2% Change over last 2 years %

* By demand, we refer to the potential renters who generated Leads A lead is registered when a visitor performs an action (views the
for sale properties on the Imobiliare.ro portal, in a certain period telephone number, send an email asking for more details, prints or
saves the ad).

Source: Imobiliare.ro

26
 R E S I D E N T I A L R E N TA L M A R K E T - S U P P LY

Compared to the similar period of the previous year, the
total supply of apartments and houses available for rent in
the analysed major regional centres was, in Q4 2021, 28.9%
lower - more specifically, being of more than 18,140 offers.
An upward trend in this regard could be seen in all six
major cities, led by Cluj-Napoca, where a 48% decrease
was noticed, down to 2,120 ads.
In Brașov, on the other hand, an annual decrease of 35.6%
was seen (down to almost 940 offers) and in Iași, a 35.2%
decrease (down to 1,130 ads). Significant decrease, also in
the two-digit range, was also seen in Bucharest (-23.7%,
down to approximately 10,000 offers), Constanța (-23.6%,
down to 1,150 offers) and, respectively, Timișoara (-22.8%,
down to 2,800 offers).
A generally downward trend can also be noticed in terms
of the new properties for rent, which stood at
approximately 11,080 in Q4 2021, equivalent to a 28.4%
decrease, compared to the similar period of 2020. In this
case, a downward trend can also be noted in all six major
cities subject to analysis, starting, once again, with
Cluj-Napoca (-41.6%) and continuing with Iași (-37.2%),
Brașov (-33.8%), Bucharest (-25.6%), Timișoara (-21.5%) and,
respectively, Constanța (-18.1%). The number of offers
newly-placed on the market in the October-December
period was of 6,030 in the Capital, 1,560 in Timișoara, 1,350
in Cluj-Napoca, 760 in Constanța, 730 in Iași, respectively
650 in Brașov.

Properties listed for rent in the major cities in Q4 2021

apartments and houses built before 2000

10,010

New listings
All listings for rent
6,030

TOTAL

2,800 18,140
2,120
1,560 1,350 1,150 1,130 940 11,080
760 730 650

Bucharest Timișoara Cluj-Napoca Constanța Iași Brașov TOTAL

New listings -25.6% -21.5% -41.6% -18.1% -37.2% -33.8% -28.4%

All listings for rent -23.7% -22.8% -48% -23.6% -35.2% -35.6% -28.9%

Change over last 12 months

Source: Imobiliare.ro

27
RENTAL M A RK E T

With regard to asking prices for apartments available for Looking at the country’s major regional centres, we can
rent, in Cluj-Napoca and Brașov we can note, in Q4 2021 as note that the only city where a visible drop was registered
well, visibly steeper growth curves than in the other six in the level of rent in the last quarter of last year is
major cities of the country, compared to the three Constanța. Of course, this has to be correlated with the
previous months. On the other hand, in Bucharest, Iași, seasonal nature of the rental market at the seaside, where
Timișoara, Craiova, and Oradea, the owners’ claims were tourist demand is significantly lower in the cold season.
much more stable during the analysed period. We note that, in the third quarter of last year, a growth had
been recorded in this regard.

8.5

7.5

6.5

5.5

4.5

3.5

2.5
9
15

15

15

16

16

17

17

18

18

18

19

19

20

20

20

21

21

21
02
01

01

01

01
01

01

01
01

02
20

20

20

20
20

20

20

20
20

20

20

20
20
20

20

20

20

20
2

2
2

2
2

2
2

2
Q1

Q3

Q1

Q2

Q3

Q4
Q2

Q4

Q1

Q3
Q2

Q4

Q1
Q1

Q3

Q3
Q2

Q4

Q2

Q4
Q1

Q3
Q2

Q4

Q1

Q2

Q3

Q4

Bucharest Timișoara Cluj-Napoca Iași Constanța Brașov

Sibiu Oradea Craiova

Source: Imobiliare.ro, asking medium price/sq.m

28
R ENTAL M A RK E T I N Q 4

According to the data centralized by Imobiliare.ro, the
average asking amount for an apartment was of EUR 8 per
square metre in Cluj-Napoca, up by 9.6% from the similar
period of the previous year. Next in the classification of
rental prices is Bucharest (with an average of EUR 7.6 per
net square metre, up by 2.7%), followed by Brașov (EUR 6.9
euro per square metre, up by 7.8%), Iași (EUR 6.7 per
square metre, up by 1.5%), then by Timișoara (EUR 6.3 per
square metre, up by 1.6%) and Constanța (EUR 6.3 per
square metre, up by 6.8%), Craiova (EUR 5.7 per square
metre, remaining at the same level), Sibiu (EUR 5.5 per
square metre, up by 7.8%) and, respectively, Oradea (EUR 5
per square metre, remaining at the same level).

All apartments Price evolution

(€/m²) in the last year

Bucharest 7.6 2.7%

Cluj-Napoca 8 9.6%

Iași 6.7 1.5%

Brașov 6.9 7.8%

Timișoara 6.3 1.6%

Constanța 6.3 6.8%

Oradea 5 0%

Craiova 5.7 7.5%

Sibiu 5.5 7.8%

Source: Imobiliare.ro

29
R ENTAL M A RK E T I N Q 4

With regard to the rent asked per categories of
apartments, Bucharest is, naturally, at the top of the major
cities, with average values of EUR 270 per month for studio
apartments, EUR 400 per month for two rooms and,
respectively, EUR 570 per month for three rooms. The
country’s capital city is followed closely by Cluj-Napoca,
where the owners still ask EUR 270 per month for a
one-room housing property, respectively EUR 400 per
month for two rooms, but EUR 500 per month for three
rooms. Of the nine major cities analysed, the most
affordable housing properties for rent can be found in
Oradea, the average monthly prices being of EUR 170 per
month for a one-room housing property, EUR 250 for two
rooms and, respectively, EUR 300 for three rooms.

Single room(€) 2 rooms(€) 3 rooms(€)

Bucharest 270 400 570

Cluj-Napoca 270 400 500

Iași 250 330 400

Brașov 250 360 450

Timișoara 200 320 350

Constanța 200 320 400

Oradea 170 250 300

Craiova 200 280 350

Sibiu 200 280 380

Source: Imobiliare.ro

30
A BOUT U S

Imobiliare.ro
Having been launched in January 2000, Moreover, Imobiliare.ro is the main
Imobiliare.ro is the first and most supplier of real estate data and statistics
accessed real estate portal in Romania. for the business press and TV in Romania
The portal has recently surpassed the (Ziarul Financiar, Wall-Street, Forbes,
threshold of 1,900,000 unique visitors per Business Review, Digi24, PRO TV, TVR1
month, and it contains the largest data etc.), providing regular communications
base of offers in all real estate categories on the evolution of the real estate market.
nationwide. Imobiliare.ro has the largest team in the
country specializing in the real estate area

Since 2016, Imobiliare.ro has been part of (online, statistics, communication, and

the Swiss Group Ringier - one of the consulting) which, in 2021, even reached

largest international groups in the media - 125 employees. Currently, over 1,900

being provided with state-of-the-art corporate clients (real estate agencies,

know-how in the digital area. Over its 21 developers, and banks) are beneficiaries of

years of experience, Imobiliare.ro has built the entire expertise of the Imobiliare.ro

a strong brand among real estate portals, team.

being recognized by 91% of the internet

users with an active real estate need
(according to a survey conducted in
December 2020).
Do you need specific information about
a particular area of interest?

Please contact our

team of experts

ANDREEA POPA
SENIOR CONSULTANT

+40 748.882.826
andreea.popa@imobiliare.ro

EDITORIAL TEAM:
Alin Bănuți - Data Analyst
Lavinia Iordan - Research
Adriana Drăgușin - Editor
Lucian Husac - Graphic Designer
Anda Manea - Marketing Consultant
Daniel Crainic - CMO

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www.imobiliare.ro