In February of this year, the prices of apartments for sale recorded a 10% increase compared to February of last year, according to the latest Storia barometer.

The asking price per square meter for new apartments for sale increased by 10% in February 2024 compared to February 2023, while the price of old apartments increased by an average of 8%, according to the latest data from Storia, the real estate platform launched by OLX.

Regarding the lifespan of listings with properties for sale on the site, this decreased by 12% compared to February 2023 and by 10% compared to January 2024, indicating higher user interest and faster property transactions.

Specifically, as the exposure duration of ads on the site decreases, the speed of property transactions mentioned in real estate ads increases.

How did apartment prices evolve in the Capital?

In Bucharest, the average price for selling new and old apartments was 1,745 euros per square meter in February 2024.

Also, the average asking price for a new apartment in February 2024 was 1,751 euros per square meter, a price 10% higher compared to the same month of the previous year and 3% higher than in January 2024.

Regarding old apartments, they had an asking price of 1,739 euros per square meter, which was 9% higher than in February of the previous year but similar to that in January of the current year.

The Evolution of Prices in the Largest Cities in the Country

Comparing the prices of new apartments for sale with those of old apartments in the 9 analyzed cities, the cities with the most listings on the platform, several differences are observed.

Thus, in Cluj-Napoca, we find the smallest price difference between the two types of properties (new vs. old), with a difference of less than 1% in favor of new apartments.

Also, the largest price difference is found in Brasov, where old apartments are 12% cheaper compared to new ones. Moreover, the cities of Iasi and Sibiu are the only ones where the prices of old apartments are higher than the prices of new apartments by 1% and 3%, respectively.

CLUJ-NAPOCA: In February, the average prices for new and old apartments in Cluj-Napoca were 2,619 euros per square meter. Also, the average asking price for a new apartment was 2,622 euros per square meter, 6% higher compared to February 2023. Old apartments in Cluj-Napoca had an average asking price of 2,614 euros per square meter, 11% higher than in the same month of the previous year.

IASI: In February 2024, the average asking price for new and old apartments in Iasi was 1,532 euros per square meter. Also, the prices of new apartments increased by 9%, reaching 1,526 euros per square meter, while old apartments recorded an 11% increase compared to February 2023, reaching 1,544 euros per square meter.

TIMISOARA: In February, the average asking price for new and old apartments in Timisoara was 1,545 euros per square meter. Also, the average price per square meter for new apartments for sale was 1,556 euros, 3% higher compared to the same month in 2023. For old apartments, there was an 8% increase, reaching an average asking price of 1,541 euros per square meter.

BRASOV: In February, the average asking price for new and old apartments in Brasov was 1,892 euros per square meter. Also, the average asking price for new apartments in Brasov reached 2,035 euros per square meter, 5% higher than in February 2023. However, old apartment prices increased rapidly, by 15% compared to the same month last year, reaching an average of 1,788 euros per square meter.

SIBIU: In February, the average asking price for new and old apartments in Sibiu was 1,488 euros per square meter. Also, the average asking price for new apartments increased by 13% in February compared to February 2023, reaching 1,468 euros per square meter. At the same time, prices for old homes had more moderate increases (+4%), reaching 1,507 euros per square meter.

CONSTANTA: In February, the average asking price for new and old apartments in Constanta was 1,681 euros per square meter. Also, in February, new apartments had an asking price of 1,737 euros per square meter, 3% higher than the same month of the previous year. At the same time, old apartments had average asking prices 8% higher than in February 2023, reaching a value of 1,637 euros per square meter.

ORADEA: In February, the average asking price for new and old apartments in Oradea was 1,530 euros per square meter. Also, the average price per square meter for new apartments was 1,572 euros (an increase of 5% in February 2024 vs. 2023). Average prices for old apartments recorded a rapid increase, reaching an average asking price of 1,502 euros per square meter, a 15% increase compared to the same period last year.

CRAIOVA: In February, the average asking price for new and old apartments in Craiova was 1,556 euros per square meter. Also, the average asking price for new apartments was 1,569 euros per square meter (an increase of 9% in February 2024 vs. 2023), while the asking price for old ones was 1,551 euros per square meter, 9% higher compared to the same month of the previous year.

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, in order to support them in making informed decisions.