Property in a pandemic: House prices up, rents down in the Romanian capital

Office building, Bucharest, Cladire de birouri, Bucuresti, August 2020
Office building, Bucharest, Cladire de birouri, Bucuresti, August 2020

Moving house during a pandemic? There’s a studio flat to rent in the busy Dristor district (best shawarma in town) for 1,050 euros a month. If you want to get on the property ladder, but don’t have a lot of cash to spare, you can snap up a studio flat in the shabbier Ferentari area for 7,000 euros.

Property prices can be unpredictable at the best of times in Bucharest, and the pandemic has thrown up some interesting new patterns.

The current trend sees rents going down, and property prices increasing by 5% from last year, except for houses or large apartments, where prices have dipped.

 Anuntul Telefonic published details of what was offered for sale and rent in September 2020 and compared it to the previous year. The site has been listing properties since 1990, when Romania embarked on the road to a market economy after decades of communism.

There were more properties posted on the posted on the site in September_ 93,110 in September, compared to 87,749 last September.

The average price of a studio flat is about 43,000 euros (same time last year it was 41,620 euros), and the average rent 265 euros, 11 euros lower than last year.

A two roomed apartment sells for just over 64,000 euros, compared to 61,500 last year. Average rental price is 373 euros, down from 406 eurs a year ago.

A three-roomed flat is 93,000 euros, up from 87,700 a year ago and rent is down to 494 euros, from 520 euros.

A four-room flat sells for 130,720 euros, slightly cheaper than last year and is rented out for 736 euros, down from 854 last year.

An average house price in Bucharest is 229,500 euros, down from 255,760 euros the year before, and rents have fallen from 1,536 euros to 1,250 a month.

Lowest rents:

Studio flat in Militari 100 euros (a month)

Two-room flat in Pantelimon, 170 euros.

Three-room flat in Vatra Luminoasa, 200 euros.

Four-room flat in Matei Voievod, 250 euros.

Priciest rents:

Studio flat Dristor 1,050 euros

Two-room flat in IMGB, 3,000 euros

Three-room flat in King Michael Park 1,700 euros

Four-room flat in Primaverii – 3,600 euro.

Cheapest houses:

– Studio flat Ferentari – 7,000 euros

– Two-room flat Rahova – 18,500 euros

– Flat, 3 rooms  Ferentari – 25.000 euros

The most expensive houses are:

-Studio flat in Piata Unirii, 135,000 euros

-Two-room flat in Piata Unirii – 185,500 euros.

Three-room flat in King Michael Park area (former Herastrau) 305,000 euros

Four-room flat in Pipera, 550,000 euros

House, 550 square meters in Primaverii, 5 million euros.


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