Romanian Property News

Rental prices are always a reality check for real estate investments – are the owners still getting good returns on their investment? Looking at this autumn’s offer, it seems that the rental market is on the rise, likely to have been influenced also by the arrival of the students for the new academic year. Once again, the focus is on Bucharest exclusively, as other cities still seem to have a relatively low and too variable rental market in order to extract meaningful comparisons.
Enough introduction, let’s see the figures. From a sample of 300 rental offers in central areas, see below some statistics for the zones that got at least five offers. On the vertical axis, you can see the price of rental, per month, in Euros.

 

The area between Vital Mall and the Chamber of Commerce (Camera de Comert) took the lead in terms of the rental pricing. Camera de Comert topped the price chart with an average rent of €540 per calendar month. On the last position amongst the fifteen areas, studio flats in Titan were rented for €325/month. Closely following on top, Mircea Voda, Nerva Traian, and Alba Iulia, had average rental prices higher than €500/month. There are also some slight discrepancies – the Unirii area is more central than the other four above it, but several offers for €470/month led to a lower average, in spite of its privileged position. Bear in mind that these statistics are based on areas with at least five offers. (even more) central areas were further up, but had very few offers: SplaiulUnirii, Magheru, Traian, StirbeiVoda, Victoriei, Casa Poporului all had rental prices of at least €600/month. In case you prefer figures instead of pictures, here they are:

Studio Flats in Bucharest - rental autumn 2007

Area	Price (€/month)
Titan	325
Mihai Bravu	342
Dristor	356
Iancului	367
Drumul Taberei	400
Calea Calarasi	409
Vitan Mall	428
Tineretului	442
Turda	465
Burebista	492
Unirii	496
Alba Iulia	500
Nerva Traian	516
Mircea Voda	520
Camera De Comert	540

What about the wider averages? From the entire set of offers, the average was €447/month. This spread evenly amongst the six sectors that form Bucharest, with Sector 1 taking the lead due to the posh area it includes and Sector 6 slightly trailing behind, as you can see below (once again, the vertical axis is the price of rent per month in Euros)

 

The following posts will provide some similar statistics for larger apartments, as well as the purchase prices for flats.