In January 2024, compared to January 2023, there were 9% fewer interactions between tenants and those who post rental ads on Storia - the real estate platform launched by OLX. Additionally, comparing January 2024 to December 2023, there was an 18% increase in contacts, or interactions, between tenants and property owners/real estate agents, indicating a downward trend.

Analyzing the number of real estate listings on the platform, it's observed that in January of the current year, there were 13% more active listings, with a higher average lifespan in January 2024 compared to January 2023.

How Rents Have Evolved in Bucharest

Compared to January 2023, in January 2024, the average rents increased the most (+24%) for three-room apartments, with the average price reaching 798 euros. Additionally, the average rent for two-room apartments was 563 euros in January 2024, a 17% increase from January 2023. Moreover, the average rent for studio apartments in the Capital increased by 11% from one year to the next, reaching an average value of 337 euros.

Those wishing to rent in Sector 1 of the Capital (still the most expensive sector in Bucharest) pay 80% more than those in Sector 4 of Bucharest (the cheapest sector, also in January 2024).

According to Storia data, rental apartments in Sector 1 recorded the highest price increase compared to the previous year (+24%), followed by apartments in Sectors 2 (+23%) and 5 (+21%), and those in Sector 6 (+19%). The smallest price increases per sector were recorded in Sector 3 (+15%) and in Sector 4 (+12%).

In January 2024, the average rents for a studio apartment ranged from 300 euros (in Sector 5) to 400 euros (in Sector 1). The average rental prices for two-room apartments ranged from 450 euros (in Sector 4) to 699 euros (in Sector 1). Three-room apartments had average rental prices ranging from 520 euros (in Sector 6) to 1100 euros (in Sector 1).

How Rents Have Evolved in Other Major Cities in the Country

Nationwide, in January 2024, compared to January 2023, there were exclusively increases in the average asking price for all categories of apartments, with a single exception: three-room apartments in Brasov, where the rental price remained similar to that of last year.

The highest year-on-year increase in average rental prices was recorded in Sibiu, where studios saw a 30% increase.

The largest month-on-month increases (January 2024 vs. December 2023) were 7% in Oradea (for three-room apartments), Iasi (for two-room apartments), and Craiova (for two-room apartments).

Conversely, the largest price decreases were recorded in Arad, for studios (-10%), and in Timisoara, for studios (-6%).

CLUJ-NAPOCA

In January 2024, the average rental prices for studios and two-room apartments remained constant compared to December 2023, while the rental prices for three-room apartments decreased by 4%.

Compared to January 2023, the average rental prices increased by 6% for studios, by 10% for two-room apartments, and by 8% for three-room apartments in January 2024.

Thus, in January 2024, the average rental price for studios was 350 euros, while two-room apartments rented, on average, for 550 euros, and three-room apartments rented for an average price of 700 euros.

IASI

Compared to December 2023, the average rental prices remained constant for studios in January 2024, while the price for two-room apartments increased by 6%, and the price for three-room apartments increased by 2%.

Compared to January 2023, the average rental prices increased in January 2024 for studios (+14%), two-room apartments (+13%), and three-room apartments (+2%).

Thus, in January 2024, the average rental price for studios was 320 euros, while two-room apartments rented, on average, for 450 euros, and three-room apartments rented for an average price of 510 euros.

BRASOV

In January 2024, compared to December 2023, the average rental prices remained constant for three-room apartments, but increased for two-room apartments (+4%), while decreasing for studios (-1%).

Compared to January 2023, rental prices increased by an average of 7% for studios and by 19% for two-room apartments, while they stagnated for three-room apartments.

Thus, in January 2024, the average rental price for studios was 300 euros, while two-room apartments rented, on average, for 500 euros, and three-room apartments rented for an average price of 600 euros.

CONSTANTA

In January 2024, the prices of two and three-room apartments remained unchanged compared to December 2023, while the prices for studio apartments decreased by 3%.

Compared to January 2023, the average rental price increased by 24% for studios, by 5% for two-room apartments, and by 9% for three-room apartments.

Thus, in January 2024, the average rental price for studios was 330 euros, while two-room apartments rented, on average, for 450 euros, and three-room apartments rented for an average price of 600 euros.

TIMISOARA

In January 2024, the prices of two-room apartments remained unchanged compared to December 2023, while the prices of studio apartments decreased by 6%, and the prices of three-room apartments decreased by 2%.

Compared to January 2023, average rents were higher in January 2024 for studios (+19%), as well as for two-room (+10%) and three-room apartments (+13%).

Thus, in January 2024, the average rental prices were 250 euros for studios, 400 euros for two-room apartments, and 450 euros for three-room apartments.

SIBIU

In Sibiu, the average rental prices in January 2024 registered a 4% increase for three-room apartments, while the prices for studios and two-room apartments remained constant compared to December 2023.

Compared to January 2023, the average rental prices in January 2024 increased across all categories of apartments - by 30% for studios, by 14% for two-room apartments, and by 22% for three-room apartments.

Thus, in January 2024, the average rental price for studios was 300 euros, while two-room apartments rented, on average, for 399 euros, and three-room apartments rented for an average price of 550 euros.

ORADEA

Compared to December 2023, the average rental prices in January 2024 increased for three-room apartments (+7%), decreased for two-room apartments (-3%), and remained constant for studios.

Compared to January 2023, the average rental prices in January 2024 increased by 11% for studios, by 27% for two-room apartments, and by 29% for three-room apartments.

Thus, in January 2024, the average rental price for studios was 200 euros, while two-room apartments rented, on average, for 380 euros, and three-room apartments rented for an average price of 450 euros.

CRAIOVA

In January 2024, compared to December 2023, the average rental prices remained constant for three-room apartments, but increased for two-room apartments (+5%) and studios (+3%).

Compared to January 2023, the average rental prices in January 2024 increased by 15% for studios, by 21% for two-room apartments, and by 13% for three-room apartments.

Thus, in January 2024, the average rental price for studios was 280 euros, while two-room apartments rented, on average, for 400 euros, and three-room apartments rented for an average price of 450 euros.

ARAD

Compared to December 2023, the average rental prices in January 2024 decreased significantly for studios (-10%), remained unchanged for two-room apartments, and increased by 3% for three-room apartments.

Compared to January 2023, the average rental prices in January 2024 increased for all categories of housing, with studios increasing by 6%, two-room apartments by 27%, and three-room apartments by 17%.

Thus, in January 2024, the average rental price for studios was 180 euros, while two-room apartments rented, on average, for 350 euros, and three-room apartments rented for an average price of 450 euros.

The analysis was conducted by Storia - the real estate platform launched by OLX, as part of the "Smart Way Home" initiative, through which the brand aims to contribute to the transparency of information necessary for all buyers, tenants, owners, agents, and developers, in order to support them in making informed real estate decisions. (Photo: Freepik)