In May of this year, the prices of apartments for sale – both old and new – registered a 14% increase compared to May of last year, according to the latest data from Storia, the real estate platform launched by OLX.

Regarding interactions, the data shows that in May of this year, there were 27% more interactions between sellers and buyers compared to May of last year.

As for the lifespan of property sale listings on the site, it significantly decreased by 56% compared to May 2023 and by 6% compared to the previous month (April 2024), indicating higher user interest and faster property transactions.

Thus, as the exposure time of listings on the site decreases, the transaction speed of the properties mentioned in the real estate ads increases.

How have apartment prices for sale evolved in the Capital?

In Bucharest, the average price for selling new and old apartments in May 2024 was 1,824 euros per square meter. Additionally, the average asking price for selling a new apartment was 1,811 euros per square meter in May 2024, a price 18% higher than in the same month of the previous year and 1% lower than in April 2024.

Regarding old apartments, they had an asking price of 1,839 euros per square meter, 15% higher than in May of last year and 1% lower than in the current month's April.

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 cities analyzed, the cities with the most listings on the platform show several differences.

Thus, in Cluj-Napoca and Timișoara, we find the smallest price difference between the two types of properties (new vs. old), with a -1% difference in favor of new apartments, which are slightly more expensive than old apartments.

Additionally, the largest price difference is found in Oradea and Sibiu. Old apartments in Oradea are 8% cheaper compared to new apartments, while in Sibiu, old apartments are 8% more expensive compared to new apartments.

CLUJ-NAPOCA: In May of this year, the average prices for new and old apartments in Cluj-Napoca were 2,717 euros per square meter. Additionally, the average asking price for a new apartment was 2,729 euros per square meter, 10% higher compared to May 2023. Old apartments in Cluj-Napoca had an average asking price of 2,702 euros per square meter, 13% higher compared to the same month of the previous year.

IAȘI: In May 2024, the average asking price for new and old apartments in Iași was 1,597 euros per square meter. Additionally, prices for new apartments saw an average increase of 11% compared to the previous year, reaching 1,581 euros per square meter, while old apartments saw a 15% increase compared to May 2023, reaching 1,628 euros per square meter.

TIMIȘOARA: In May of this year, the average asking price for new and old apartments in Timișoara was 1,611 euros per square meter. Additionally, the average price per square meter for new apartments for sale was 1,620 euros, 8% higher than the same month in 2023. For old apartments, a 13% increase was observed, with an average asking price of 1,607 euros per square meter.

BRAȘOV: In May of this year, the average asking price for new and old apartments in Brașov was 1,980 euros per square meter. Additionally, the average asking price for new apartments in Brașov reached 2,067 euros per square meter, 6% higher than in May 2023. However, prices for old apartments increased rapidly, by 20% compared to the same month last year, reaching an average of 1,915 euros per square meter.

SIBIU: In May of this year, the average asking price for new and old apartments in Sibiu was 1,602 euros per square meter. Additionally, the average asking price for new apartments increased by 18% in May this year compared to May 2023, reaching 1,532 euros per square meter. At the same time, prices for old homes saw increases of 14%, reaching 1,658 euros per square meter.

CONSTANȚA: In May of this year, the average asking price for new and old apartments in Constanța was 1,738 euros per square meter. Additionally, in May of this year, new apartments had an asking price of 1,769 euros per square meter, 4% higher than in the same month last year. At the same time, old apartments had average asking prices 11% higher compared to May 2023, reaching a value of 1,706 euros per square meter.

ORADEA: In May of this year, the average asking price for new and old apartments in Oradea was 1,568 euros per square meter. Additionally, the average price per square meter for new apartments was 1,648 euros (an 11% increase in May 2024 vs. 2023). Average prices for old apartments increased, reaching an average asking price of 1,517 euros per square meter, a 14% increase compared to the same period last year.

CRAIOVA: In May of this year, the average asking price for new and old apartments in Craiova was 1,598 euros per square meter. Additionally, the average asking price for new apartments was 1,627 euros per square meter (a 10% increase in May 2024 vs. 2023), while the asking price for old ones was 1,586 euros per square meter, 9% higher compared to the same month last year.

The analysis was carried out by Storia – the real estate platform launched by OLX, as part of the "Smart Way Home" initiative, through which the brand aims to contribute to the transparency of the information needed by all buyers, renters, owners, agents, and developers, to support them in making informed decisions. (Photo: Freepik)