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Analysis: What types of apartments are renters looking for?

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Storia.ro, the real estate platform launched by OLX, analyzed the preferences of Romanians in relation to renting apartments and took into account the type of ads that generate the most views according to: the number of rooms and the age of the buildings - from those built before of 1977, to those from the period 1977-2000, 2001-2020 or after 2021.

According to the analysis, in May 2023, in the 10 analyzed cities, which are also the most effervescent on the rental market, 50% of searches for apartments for rent are for two-room apartments, 32% for studios and 17% for three-room apartments rooms.

Compared to May 2022, increases are observed in all search segments, the highest being recorded in the category of two-room apartments (+36%) and studios (+24%). Interest in three-room apartments increased by 15% year-on-year.

In terms of year of construction, 42% of searches are for apartments built between 1977 and 2000, 30% for apartments built between 2001 and 2020, 19% for apartments built from 2021 and only 9% searches for those built before 1977.

Compared to May 2022, Romanians have reoriented their search for older apartments (11% of searches were for pre-1977 apartments in May 2022 vs. 9% of searches in May 2023) to newer ones, built after 2021 (up from 11% to 19% of searches).

How the interest of Romanians in Bucharest for rents has evolved

In Bucharest, in May 2023, 47% of searches for apartments for rent were for two-room apartments, 38% for studios and 15% for three-room apartments.

Compared to May 2022, there was a 31% increase in searches for studio apartments, 15% for two-bedroom apartments and 1% for three-bedroom apartments.

In terms of year of construction, in May 2023, 42% of searches were for apartments built between 1977 and 2000, 28% for those from 2001-2020, 20% for apartments built after 2021 and 11% for apartments built before 1977. In Bucharest, as in the rest of the country, we see the same significant increase in interest in new apartments.

How Romanians' interest in rents in other big cities in the country has evolved, according to Storia.ro data

CLUJ-NAPOCA

In May 2023, 54% of searches were for two-bedroom apartments, followed by studios (26%) and three-bedroom apartments (20%). The segment with the highest growth, however, was represented by three-room apartments (+45% searches in May 2023 vs. May 2022). Interest in two-room apartments increased by 42%, and for studios by 35%.

Taking into account the year of construction, it is observed that only 4% of the searches were for apartments built before 1977, 41% were for apartments built between 2001 and 2020, 36% for those built between 1977 and 2000 and 19% for those after the year 2021.

IASI

In May 2023, 47% of apartment rental searches were for two-bedroom apartments, 39% for studios and 14% for three-bedrooms. The largest increase in interest is observed in the category of three-room apartments: +33% year-on-year (May 2023 vs. May 2022).

In May, 34% of the interest of the residents of Iasi was for apartments built between 1977 and 2000, followed by 29% apartments built after 2021, 28% - between 2001 and 2020 and only 9% for those before 1977. Interest in apartments us increased by 83% year on year.

CONSTANT

In May 2023, 60% of searches in Constanta were for two-room apartments, the highest percentage recorded in the 10 cities analyzed. 21% of searches were for studios and 19% for three-bedroom apartments. Interest in studio apartments, however, shows the highest year-on-year increase: +60% (May 2023 vs. May 2022).

In May, 49% of searches were for apartments built between 1977 and 2000, 29% for apartments built between 2001 and 2020, 17% for those after 2021 and only 5% for those built before 1977. Interest in old apartments has down 55% year-on-year, but up significantly for new apartments.

TIMISOARA

In May 2023, 51% of searches were for two-bedroom apartments, 30% for studios and 19% for three-bedroom apartments. The biggest increase was registered among three-room apartments: +27% (May 2023 vs. May 2022).

In terms of housing age, 56% of searches in May 2023 were for apartments built between 1977 and 2000, 24% for those built between 2001 and 2020, 14% for those after 2021 and only 6% of searches for apartments from before 1977.

BRAŞOV

52% of searchers in May 2023 were for two-room apartments, 30% for studios and 18% for three-room ones. The biggest increase was among two-room apartments: +30% year-on-year (May 2023 vs. May 2022).

In Brașov too, there is a low interest in old apartments, with 6% of searches being for apartments built before 1977. 41% of searches are for apartments built between 1977 and 2000, 34% for those between 2001 and 2020 and 19% for apartments built after 2021. There is also a reorientation in Brașov from older apartments, built before 1977, to new ones, built after 2021.

CRAIOVA

In May 2023, 50% of searches were for two-bedroom apartments, 29% for studios and 21% for three-bedrooms. Interest has increased significantly for two- and three-room apartments.

In Craiova, 66% of searches in May 2023 were for apartments built between 1977 and 2000, 19% for those between 2001 and 2020, 11% for those built before 1977 and only 4% for those after 2021 – the lowest interest registered for new apartments among the analyzed cities.

ORADEA 

In May 2023, 59% of searches were for two-bedroom apartments, 26% for three-bedrooms, and only 15% searched for studios. Interest in two-room apartments is up 15% year-on-year, while studio flats are down 21%.

In May, apartments built between 1977 and 2000 were more likely to be searched for (54% of searches), with 34% being for those built between 2001 and 2020, 7% before 1977 and 5% after 2021.

ARAD

The most searched segment in Arad was two-room apartments, bringing in 54% of searches in May 2023. 30% of searches were for studios, and 16% for three-room apartments. Interest is increasing for two-room apartments, but decreasing for studios and three-room apartments.

In May 2023, 45% of searches were for apartments built between 1977 and 2000, 29% for those between 2001 and 2020, 17% for apartments from before 1977, and 9% for apartments built after 2021.

SIBIU

In May 2023, Sibiu saw the highest interest in three-room apartments of all cities analyzed (28% of searches). 51% of renters looked for two-bedroom apartments, and 21% of them looked for studios. Two-bedroom interest is up 21% year-on-year, combined with slight declines for studios and three-bedroom apartments.

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