Old vs. New Apartments: Surprising Price Gaps Across Romania's Major Cities

In cities like Bucharest, Cluj-Napoca, Iași, Sibiu, and Constanța, older apartments continue to sell at higher prices than new ones—an unusual trend in the European housing market. In contrast, Timișoara, Oradea, and Craiova are the only major Romanian cities where new apartments are more expensive than older ones.

According to the May analysis conducted by Storia, the real estate platform launched by OLX, both old and new apartment prices increased year-over-year in Romania’s major cities.

The largest annual price increases, combining both categories, were recorded in Craiova (+16%), Sibiu (+15%), and Iași (+14%). Meanwhile, more moderate growth was observed in Brașov (+9%), Bucharest, and Cluj-Napoca (both +11%).

Where New Apartments Are Cheaper Than Old Ones

BUCHAREST

The capital displays the largest price gap between old and new apartments. In May, the average price per square meter was:

• €1,856 for new apartments
• €2,230 for old apartments

Apartment Type

New

Old

Difference

Studio (40 sqm)

€74,240

€89,200

–€14,960

2 rooms (55 sqm)

€102,080

€122,650

–€20,570

3 rooms (75 sqm)

€139,200

€167,250

–€28,050

BRAȘOV

Prices are nearly identical, with only small advantages for older homes.

• Price per sqm:
• New: €2,197
• Old: €2,205

Apartment Type

New

Old

Difference

Studio

€87,880

€88,200

–€320

2 rooms

€120,835

€121,275

–€440

3 rooms

€164,775

€165,375

–€600

CLUJ-NAPOCA

Romania’s most expensive market still sees slightly higher prices for old apartments.

• Price per sqm:
• New: €3,116
• Old: €3,124

Apartment Type

New

Old

Difference

Studio

€124,640

€124,960

–€320

2 rooms

€171,380

€171,820

–€440

3 rooms

€233,700

€234,300

–€600

CONSTANȚA

Here, the price difference between new and old is more evident in favor of new builds.

• Price per sqm:
• New: €1,908
• Old: €1,975

Apartment Type

New

Old

Difference

Studio

€76,320

€79,000

–€2,680

2 rooms

€104,940

€108,625

–€3,685

3 rooms

€143,100

€148,125

–€5,025

IAȘI

Significant price gaps remain between new and old apartments.

• Price per sqm:
• New: €1,721
• Old: €1,916

Apartment Type

New

Old

Difference

Studio

€68,840

€76,640

–€7,800

2 rooms

€94,655

€105,380

–€10,725

3 rooms

€129,075

€143,700

–€14,625

SIBIU

In Sibiu, prices remained stable month-over-month, with new apartments slightly more affordable.

• Price per sqm:
• New: €1,838
• Old: €1,856

Apartment Type

New

Old

Difference

Studio

€73,520

€74,240

–€720

2 rooms

€101,090

€102,080

–€990

3 rooms

€137,850

€139,200

–€1,350

Where New Apartments Are More Expensive Than Old Ones

CRAIOVA

Craiova is one of the few cities where new apartments consistently command higher prices.

• Price per sqm:
• New: €1,911
• Old: €1,851

Apartment Type

New

Old

Difference

Studio

€76,440

€74,040

+€2,400

2 rooms

€105,105

€101,805

+€3,300

3 rooms

€143,325

€138,825

+€4,500

ORADEA

The gap in Oradea is even more pronounced.

• Price per sqm:
• New: €1,872
• Old: €1,744

Apartment Type

New

Old

Difference

Studio

€74,880

€69,760

+€5,120

2 rooms

€102,960

€95,920

+€7,040

3 rooms

€140,400

€130,800

+€9,600

TIMIȘOARA

Here, new apartments are consistently more expensive across all types.

• Price per sqm:
• New: €1,874
• Old: €1,777

Apartment Type

New

Old

Difference

Studio

€74,960

€71,080

+€3,880

2 rooms

€103,070

€97,735

+€5,335

3 rooms

€140,550

€133,275

+€7,275