In December 2023, compared to December 2022, there was a 1% decrease in interactions between tenants and those posting rental ads on Storia, the real estate platform launched by OLX.

Additionally, when comparing December 2023 to November 2023, there was a 25% decrease in contacts or interactions between tenants and property owners/real estate agents, indicating a predictable downward trend for December.

The prices listed on Storia for rentals in the top 10 cities, cities with the most listings on the platform, showed a year-over-year increase of 20% (December 2023 vs. December 2022), while month-over-month prices (December 2023 vs. November 2023) remained relatively stable.

Price Evolution in Bucharest:

Compared to December 2022, in December 2023, the average rental prices increased the most (+17%) for three-room apartments, reaching an average price of 748 euros.

Similarly, the average prices for two-room apartments were 558 euros in December 2023, a 16% increase from December 2022. The average price for renting studios in the capital increased by 10% compared to December 2022, reaching an average value of 335 euros.

Those looking to rent in Sector 1 of the capital (still the most expensive sector in Bucharest) paid 79% more than those in Sector 4 (the cheapest sector) in December 2023.

By sector, apartments in Sector 1 experienced the highest price increase compared to the previous year (+21%), followed by apartments in Sectors 2 and 5 (+20%) and Sector 6 (+18%). The smallest price increases per sector were recorded in Sector 3 (+12%) and Sector 4 (+7%).

In December 2023, average rents for studios ranged from 300 euros (in Sector 5) to 420 euros (Sector 1). Average rental prices for two-room apartments ranged from 450 euros (Sector 4) to 675 euros (Sector 1). Three-room apartments had average rental prices ranging from 500 euros (Sector 4) to 1050 euros (Sector 1).

Rent Evolution in Other Major Cities:

At the national level, in December 2023, compared to December 2022, there were only increases in the average rental price for all apartment categories, with one exception: three-room apartments in Iasi, where the rental price remained similar to the previous year.

The highest year-over-year increase in average rental prices was in Oradea, where two-room apartments saw a 30% increase.

The largest month-over-month increases (December 2023 vs. November 2023) were 6% in Constanta (for studios), Sibiu (for three-room apartments), and Timisoara (for studios). On the other hand, the largest price decreases were in Brasov, for studios (-6%), and in Cluj-Napoca, for two-room apartments (-5%).

CLUJ-NAPOCA

In December 2023, the average asking prices for renting studios and three-room apartments decreased by 3% compared to November 2023, while the prices for renting two-room apartments decreased by 5%.

Compared to December 2022, average rental prices increased by 6% for studios, 10% for two-room apartments and 12% for three-room apartments.

Thus, in December 2023, the average rental price of studios dropped to 350 euros, while two-room apartments are rented, on average, for 550 euros, and three-room apartments are rented for an average price of 730 Of euro.

IASI

Compared to November 2023, average asking prices in December 2023 remained flat for three-bedroom apartments, while the price of two-bedroom apartments fell by 1% and the price for studio rentals fell by 3%.

Compared to December 2022, average asking prices in December 2023 stagnated for three-bedroom apartments and increased by 6% for two-bedroom apartments and 14% for studios.

Thus, in December 2023, the average rental price of studios was 320 euros, while two-room apartments are rented, on average, for 425 euros, and three-room apartments are rented for an average price of 500 Of euro.

BRAŞOV

In December 2023, compared to November 2023, average asking rental prices fell by 6% for studios and by 4% for two-bedroom apartments, while the price of three-bedroom apartments remained constant.

Compared to December 2022, rental prices increased by an average of 8% for three-room apartments, 9% for two-room apartments and 6% for studios.

Thus, in December 2023, the average rental price of studios was 302 euros, while two-room apartments are rented, on average, for 480 euros, and three-room apartments are rented for 599 euros.

CONSTANTA

In December 2023, prices for two- and three-bedroom apartments stagnated compared to November 2023, while studio rental prices increased by 6%.

Compared to December 2022, the average rental price increased by 26% in the studio category, by 13% in two-room apartments and by 9% in the case of three-room apartments.

Thus, in December 2023, the average rental price of studios reached 340 euros, while two-room apartments are rented, on average, for 450 euros, and three-room apartments are rented for 600 euros.

TIMISOARA

In December 2023, two-bedroom apartment prices were flat compared to November 2023, while studio apartment prices increased by 6% and three-bedroom apartment prices increased by 2%.

Compared to December 2022, average rents were higher in December 2023 for studios (+21%), but also for two-room apartments (+8%) and three-room apartments (+15%).

Thus, in December 2023 the average rental prices were 266 euros for studios, 400 euros for two-room apartments and 460 euros for three-room apartments.

SIBIU

In Sibiu, average asking rental prices in December 2023 increased by 5% for two-room apartments and 6% for three-room apartments, and studio prices decreased by 1% compared to November 2023.

Compared to December 2022, average asking prices in December 2023 for rent have increased across all apartment categories – by 21% for studios, by 25% for two-room apartments and by 18% for three-room apartments.

Thus, in December 2023, the average rental price of studios was 300 euros, while two-room apartments are rented, on average, for 400 euros, and three-room apartments are rented for 530 euros.

ORADEA 

Compared to November 2023, the average asking prices in December 2023 for rent increased in the case of two-room apartments (+3%) and in the case of three-room apartments (+5%), and in the case of studios, prices remained constant.

Compared to December 2022, average asking prices have increased by 11% for studios, by 30% for two-bedroom apartments and by 24% for three-bedroom apartments.

Thus, in December 2023, the average rental price of studios was 200 euros, while two-room apartments are rented, on average, for 390 euros, and three-room apartments are rented for 420 euros.

CRAIOVA

In December 2023, compared to November 2023, the average prices of rents stagnated for three-room apartments, but increased for two-room apartments (+3%) and studios (+4%).

Compared to December 2022, average asking prices increased in December 2023 for studios (+12%), two-room apartments (+25%) and three-room apartments (+13%).

Thus, in December 2023, the average rental price of studios was 271 euros, while two-room apartments are rented, on average, for 380 euros, and three-room apartments are rented for 450 euros.

ARAD

Compared to November 2023, average asking prices in December 2023 increased for studios (+5%), while prices for two- and three-bedroom apartments stagnated.

Compared to December 2022, the average asking prices in December 2023 increased for all housing categories, as follows: studios (+18%), two-room apartments (+21%), three-room apartments (+19%).

Thus, in December 2023, the average rental price of studios reached 200 euros, while two-room apartments are rented, on average, for 350 euros, and three-room apartments are rented for an average price of 435 euros.

The analysis was carried out by Storia - the real estate platform launched by OLX, as part of the "Smart Home Road" initiative, through which the brand aims to contribute to the transparency of the necessary information for all buyers, tenants, owners, agents and developers, with the aim of to support them in making informed real estate decisions.