In March of this year, there was a 5% increase in interactions between tenants and those posting rental ads on Storia - the real estate platform launched by OLX, compared to the previous month (February 2024).

However, interactions between tenants and owners or agents decreased by 4% compared to March of the previous year (March 2024 vs. March 2023).

The prices requested on Storia for rents in the 10 analyzed cities, the cities with the most listings on the platform, recorded a 17% year-over-year increase (March 2024 vs. March 2023), while prices requested from month to month (March 2024 vs. February 2024) increased by 2%.

How rental prices evolved in Bucharest:

Compared to March 2023, in March 2024, average prices for rents increased the most (+17%) in the category of three-room apartments, where the average price was 752 euros. Also, the average price for renting two-room apartments was 550 euros in March 2024, 16% higher than in March 2023. Moreover, the average price for renting studios in the capital increased by 15% year-over-year, reaching an average value of 348 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 760 euros, while Sector 4 remains the cheapest sector, even in March 2024, with average prices of 449 euros. Thus, those who wish to rent in Sector 1 of the Capital pay 69% more than those in Sector 4 of Bucharest.

According to Storia data, in March, rented apartments in Sector 2 saw the highest price increase compared to the previous year (+24%), followed by apartments in Sector 6 (+23%) and those in Sector 5 (+19%). The smallest price increases per sector were recorded in Sector 4 (+10%), Sector 1 (+16%), and Sector 3 (+18%).

In March 2024, average rents for a studio ranged from 319 euros (in Sector 5) to 400 euros (Sector 1). The average rental prices for two-room apartments ranged from 450 euros (Sector 4) to 670 euros (Sector 1). Three-room apartments had average rental prices ranging from 550 euros (Sectors 4 and 6) to 1000 euros (Sector 1).

How rents evolved in other major cities in the country:

Throughout the country, in March 2024, compared to March 2023, there were both stagnations and increases in the average price requested for all categories of apartments.

The highest year-over-year increase in average rental prices was recorded in Craiova, where three-room apartments increased by 28%. The highest month-over-month increase (March 2024 vs. February 2024) was 11% for studios in Arad. On the other hand, the highest price decrease from month to month was recorded in Craiova, for studios (-6%). Cluj-Napoca and Iasi are the only cities where average rental prices remained stagnant in March compared to February, for all categories of apartments.

CLUJ-NAPOCA

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

Compared to March 2023, average rental prices increased by 9% for studios, 10% for two-room apartments, and 17% for three-room apartments in March 2024.

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

IASI

In March 2024, average rental prices for apartments in Iasi remained similar to those in February.

Compared to March 2023, average rental prices in March 2024 increased by 7% for studios and 13% for two-room apartments, while the price for renting three-room apartments remained constant.

Thus, in March 2024, the average rental price for studios was 300 euros, while two-room apartments were rented, on average, for 450 euros, and three-room apartments were rented for an average price of 500 euros.

BRASOV

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

Compared to March 2023, rental prices increased on average by 17% for studios and 13% for two-room apartments, while prices for three-room apartments remained stagnant.

Thus, in March 2024, the average rental price for studios was 350 euros, while two-room apartments were rented, on average, for 500 euros, and three-room apartments were rented for 600 euros.

CONSTANTA

In March 2024, compared to February 2024, rental prices for studios and three-room apartments remained stagnant, while two-room apartments had higher rental prices by 4%.

Compared to March 2023, the average rental price increased by 7% for studios, 11% for two-room apartments, and 9% for three-room apartments.

Thus, in March 2024, the average rental price for studios was 320 euros, while two-room apartments were rented, on average, for 500 euros, and three-room apartments were rented for 600 euros.

TIMISOARA

In March 2024, rental prices for studios and two-room apartments remained constant compared to the previous month, while prices for three-room apartments increased by 2%.

Compared to March 2023, average rents were higher in March 2024 for studios (+9%), two-room apartments (+11%), and three-room apartments (+20%).

Thus, in March 2024, average rental prices were 250 euros for studios, 400 euros for two-room apartments, and 480 euros for three-room apartments.

SIBIU

In Sibiu, average rental prices requested in March 2024 remained unchanged from the previous month, both for studios and two-room apartments, while three-room apartments were rented at lower prices (-2%).

Compared to March 2023, average rental prices requested in March 2024 increased for all categories of apartments - by 20% for studios, 14% for two-room apartments, and 20% for three-room apartments.

Thus, in March 2024, the average rental price for studios was 300 euros, while two-room apartments were rented, on average, for 400 euros, and three-room apartments were rented for 540 euros.

ORADEA

Compared to February 2024, average rental prices requested in March 2024 increased for studios (+10%) and two-room apartments (+5%) but remained constant for three-room apartments.

Compared to March 2023, average rental prices requested in March 2024 increased by 17% for studios, 25% for two-room apartments, and 22% for three-room apartments.

Thus, in March 2024, the average rental price for studios was 215 euros, while two-room apartments were rented, on average, for 366 euros, and three-room apartments were rented for an average price of 470 euros.

CRAIOVA

In March 2024,

compared to February 2024, average rental prices stagnated for two-room apartments, increased for three-room apartments (+2%), but decreased for studios (-6%).

Compared to March 2023, average rental prices requested in March 2024 increased for studios (+13%), two-room apartments (+14%), and three-room apartments (+28%).

Thus, in March 2024, the average rental price for studios was 282 euros, while two-room apartments were rented, on average, for 400 euros, and three-room apartments were rented for 511 euros.

ARAD

Compared to February 2024, average rental prices requested in March 2024 increased for studios (+11%), as well as for two- and three-room apartments (+5% and +8%, respectively).

Compared to March 2023, average rental prices requested in March 2024 increased for all categories of housing, as follows: studios (+25%), two-room apartments (+14%), and three-room apartments (+18%).

Thus, in March 2024, the average rental price for studios was 200 euros, while two-room apartments were rented, on average, for 366 euros, and three-room apartments were rented for an average price of 470 euros.

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