In April of this year, there were 10% fewer interactions between tenants and those posting rental ads on Storia, the real estate platform launched by OLX, compared to the previous month (March 2024).

However, interactions between tenants and owners or agents decreased by 1% compared to the same month last year (April 2024 vs. April 2023).

The asking prices on Storia for rentals in the 10 analyzed cities, the cities with the most ads on the platform, saw a 15% increase year-over-year (April 2024 vs. April 2023), while the month-over-month asking prices (April 2024 vs. March 2024) decreased by 3%. Thus, the average asking price for renting studios and two- and three-bedroom apartments in April 2024 was 498 euros.

How rental prices evolved in Bucharest:

Compared to April 2023, the average rental prices in April 2024 increased the most (+13%) in the studio category, where the average rental price was 348 euros. The average rental price for two-bedroom apartments was 543 euros in April 2024, 12% higher than in April 2023. Similarly, the average rental price for three-bedroom apartments in the capital increased by 11% year-over-year, with an average value of 767 euros.

As in recent months, Sector 1 of the capital remains the most expensive sector in Bucharest, with apartments renting at an average price of 757 euros, while Sector 4 remains the cheapest sector in April 2024, with average prices of 458 euros. Thus, those who wish to live for rent in Sector 1 of the capital pay 65% more than those in Sector 4 of Bucharest.

According to Storia data, in April, rental apartments in Sector 6 recorded the highest price increase compared to last year (+24%), followed by apartments in Sector 2 (+23%) and those in Sectors 3 and 5 (+16%). The smallest price increases per sector were recorded in Sector 1 (+6%) and Sector 4 (+12%).

In April 2024, the average rents for a studio ranged between 319 euros (in Sector 5) and 400 euros (Sector 1). The average rental prices for two-bedroom apartments were between 450 euros (Sector 4) and 670 euros (Sector 1). Three-bedroom apartments had average rental prices ranging from 530 euros (Sector 6) to 1000 euros (Sector 1).

How rents evolved in other major cities in the country:

At the national level, in April 2024, compared to April 2023, there were stagnations and increases in the average requested prices across all categories of rental apartments.

The largest year-over-year increase in average rental prices was recorded in Arad, where studio rents increased by 24%. The largest month-over-month increase (April 2024 vs. March 2024) was 8% for three-bedroom apartments in Constanța. Conversely, the largest month-over-month price decrease was recorded in Sibiu, for three-bedroom apartments (-7%). Cluj-Napoca is the only city where the average rental prices stagnated in April vs. March, across all apartment categories.

CLUJ-NAPOCA

In April 2024, the average requested rental prices for studios and two- or three-bedroom apartments remained constant compared to the previous month.

Compared to April 2023, average rents increased by 6% for studios, 10% for two-bedroom apartments, and 17% for three-bedroom apartments.

Thus, in April 2024, the average rental price for studios was 350 euros, while two-bedroom apartments rented for an average of 550 euros, and three-bedroom apartments rented for an average of 699 euros, prices similar to those in March.

IAȘI

In April 2024, the average requested rental prices for apartments in Iași varied.

Compared to April 2023, the average requested prices in April 2024 increased both for studios (+13%) and for two-bedroom apartments (+8%), while the price for renting three-bedroom apartments remained constant.

Thus, in April 2024, the average rental price for studios was 320 euros, while two-bedroom apartments rented for an average of 430 euros, and three-bedroom apartments rented for an average of 500 euros.

BRAȘOV

In April 2024, compared to March 2024, the average requested rental prices remained constant for studios and three-bedroom apartments, but decreased for two-bedroom apartments (-2%).

Compared to April 2023, rental prices increased on average by 17% for studios and 9% for two-bedroom apartments, while for three-bedroom apartments, prices stagnated.

Thus, in April 2024, the average rental price for studios was 350 euros, while two-bedroom apartments rented for an average of 490 euros, and three-bedroom apartments rented for 600 euros.

CONSTANTA

In April 2024, compared to March 2024, the rental prices for studios increased by 9%, while the prices for three-bedroom apartments increased by 8%. For two-bedroom apartments, prices remained constant.

Compared to April 2023, the average rental prices increased by 23% for studios and by 8% for three-bedroom apartments, while the prices for two-bedroom apartments remained the same.

Thus, in April 2024, the average rental price for studios was 350 euros, while two-bedroom apartments rented for an average of 500 euros, and three-bedroom apartments rented for 650 euros.

TIMIȘOARA

In April 2024, the rental prices for two- and three-bedroom apartments remained constant compared to the previous month, while the prices for studios increased by 6%.

Compared to April 2023, average rents were higher in April 2024 both for studios (+15%) and for two-bedroom apartments (+8%) and three-bedroom apartments (+17%).

Thus, in April 2024, the average rental prices were 265 euros for studios, 400 euros for two-bedroom apartments, and 480 euros for three-bedroom apartments.

SIBIU

In Sibiu, the average requested rental prices in April 2024 remained constant for studios compared to the previous month, while two-bedroom (-5%) and three-bedroom apartments (-7%) rented for lower prices.

Compared to April 2023, the average requested rental prices in April 2024 increased for all apartment categories – by 20% for studios, 9% for two-bedroom apartments, and 11% for three-bedroom apartments.

Thus, in April 2024, the average rental price for studios was 300 euros, while two-bedroom apartments rented for an average of 380 euros, and three-bedroom apartments rented for 500 euros.

ORADEA

Compared to March 2024, the average requested rental prices in April 2024 increased for studios (+1%) and three-bedroom apartments (+4%), but remained constant for two-bedroom apartments.

Compared to April 2023, the average requested rental prices in April 2024 increased by 19% for studios, 21% for two-bedroom apartments, and 27% for three-bedroom apartments.

Thus, in April 2024, the average rental price for studios was 218 euros, while two-bedroom apartments rented for an average of 400 euros, and three-bedroom apartments rented for 470 euros.

CRAIOVA

In April 2024, compared to March 2024, the average rental prices remained constant for two-bedroom apartments, but increased for studios (+6%) and three-bedroom apartments (+2%).

Compared to April 2023, the average requested rental prices in April 2024 increased for studios (+20%), two-bedroom apartments (+21%), and three-bedroom apartments (+30%).

Thus, in April 2024, the average rental price for studios was 300 euros, while two-bedroom apartments rented for an average of 400 euros, and three-bedroom apartments rented for 520 euros.

ARAD

Compared to March 2024, the average requested rental prices in April 2024 increased for studios (+5%) and three-bedroom apartments (+4%), while the rental prices for two-bedroom apartments decreased (-4%).

Compared to April 2023, the average requested rental prices in April 2024 increased for all apartment categories: studios (+24%), two-bedroom apartments (+6%), and three-bedroom apartments (+9%).

Thus, in April 2024, the average rental price for studios increased to 210 euros, while two-bedroom apartments rented for an average of 350 euros, and three-bedroom apartments rented for an average of 490 euros.

The analysis was conducted by Storia, the real estate platform launched by OLX, as part of the "Smart Path to 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)