In March of this year, the prices of apartments for sale recorded an increase of 11% compared to March of the previous year. The asking price per square meter for new apartments for sale increased by 13% in March 2024 compared to March 2023, while the price of old apartments increased, on average, by 9%, according to the most recent data from Storia, the real estate platform launched by OLX.

Regarding the lifespan of advertisements for properties for sale on the site, it decreased by 41% compared to March 2023 and by 29% compared to February 2024, indicating a higher user interest and faster property transactions. Specifically, as the exposure duration of advertisements on the site decreases, the speed of property transactions mentioned in real estate ads increases.

Apartment Prices in the Capital

In Bucharest, the average price for selling new and old apartments was 1,799 euros per square meter in March 2024.

Additionally, the average asking price for selling a new apartment was, in March 2024, 1,824 euros per square meter, a price 15% higher than the same month of the previous year and 4% higher than February 2024.

Regarding old apartments, they had an asking price of 1,771 euros per square meter, 10% higher than in March of the previous year and 2% higher than in February of the current year.

Price Evolution 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 announcements on the platform, several differences can be 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. Similarly, the largest price difference is found in Brasov, where old apartments are 9% cheaper compared to new apartments. Also, the cities of Iasi and Sibiu remain the only ones where the prices of old apartments are higher than the prices of new apartments by 3% and 4%, respectively.

CLUJ-NAPOCA: In March of the current year, the average prices for new and old apartments in Cluj-Napoca were 2,651 euros per square meter. Additionally, the average asking price for a new apartment was 2,653 euros per square meter, 7% higher compared to March 2023. Old apartments in Cluj-Napoca had an average asking price of 2,649 euros per square meter, 12% higher than in the same month of the previous year.

IASI: In March 2024, the average asking price for new and old apartments in Iasi was 1,553 euros per square meter. Additionally, the prices of new apartments increased by an average of 11% compared to the previous year, reaching 1,538 euros per square meter, while old apartments recorded an increase of 13% compared to March 2023, reaching 1,585 euros per square meter.

TIMISOARA: In March of the current year, the average asking price for new and old apartments in Timisoara was 1,557 euros per square meter. Additionally, the average price per square meter for new apartments for sale was 1,568 euros, 4% higher than the same month of 2023. For old apartments, there is a 10% increase, reaching an average asking price of 1,552 euros per square meter.

BRASOV: In March of the current year, the average asking price for new and old apartments in Brasov was 1,937 euros per square meter. Additionally, the average asking price for new apartments in Brasov reached 2,040 euros per square meter, 8% higher than March 2023. However, the prices of old apartments increased rapidly, by 18% compared to the same month of the previous year, reaching an average of 1,848 euros per square meter.

SIBIU: In March of the current year, the average asking price for new and old apartments in Sibiu was 1,532 euros per square meter. Additionally, the average asking price for new apartments increased by 16% in March compared to March 2023, reaching 1,498 euros per square meter. At the same time, prices for old housing units increased by 8%, reaching 1,562 euros per square meter.

CONSTANTA: In March of the current year, the average asking price for new and old apartments in Constanta was 1,712 euros per square meter.

Additionally, in March of the current year, new apartments had an asking price of 1,758 euros per square meter, 5% higher than the same month of the previous year. At the same time, old apartments had average asking prices 9% higher than in March 2023, reaching a value of 1,673 euros per square meter.

ORADEA: In March of the current year, the average asking price for new and old apartments in Oradea was 1,539 euros per square meter. Additionally, the average price per square meter for new apartments was 1,609 euros (an increase of 10% in March 2024 vs. 2023). Average prices for old apartments increased, reaching an average asking price of 1,490 euros per square meter, with an increase of 13% compared to the same period of the previous year.

CRAIOVA: In March of the current year, the average asking price for new and old apartments in Craiova was 1,585 euros per square meter. Additionally, the average asking price for new apartments was 1,598 euros per square meter (an increase of 9% in March 2024 vs. 2023), while the asking price for old apartments was 1,580 euros per square meter, 10% 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 Home Journey" initiative, through which the brand aims to contribute to the transparency of information necessary for all buyers, renters, owners, agents, and developers, with the aim of supporting them to make informed decisions. (Photo: Dreamstime)