The real estate platform Storia, launched by OLX, has published the latest analysis "Real Estate Profile: Bucharest." According to the analysis, the average sale price per square meter in Bucharest from January to October 2023 reached 1,564 euros, and the most sought-after types of apartments were two-bedroom ones, both in the sales and rental segments.

Most Popular Types of Housing in Bucharest in the First 10 Months of 2023

In Bucharest, the most sought-after apartments for both rent and sale from January to October 2023 were two-bedroom apartments.

In the sales segment, two-bedroom apartments ranked first in search preferences (47%), followed by three-bedroom apartments (33%), and studios (20%). Compared to the same period last year (January-October 2022), there was an increased interest in studios (+23%) and two-bedroom apartments (+4%), while there was a decrease in interest for three-bedroom apartments (-3%).

In terms of rentals, two-bedroom apartments (45%) topped the searches, followed by studios (41%) and three-bedroom apartments (14%). Compared to the same period last year, there was a 20% increase in searches for studios, while searches for two-bedroom (-1%) and three-bedroom apartments (-11%) declined.

Cost of Buying or Renting a Property in Bucharest

From January to October 2023, the average sale price per square meter reached 1,564 euros in Bucharest.

In October 2023, the average price per square meter for newly built apartments was 1,556 euros, slightly higher than in October 2022. On the other hand, old apartments had a selling price of 1,733 euros per square meter.

Regarding rental prices, they increased in October 2023 for all types of housing. In October 2023, a studio in Bucharest could be rented for an average price of 334 euros, an 11% increase compared to the previous year. Two-bedroom apartments had an average rental price of 524 euros in October, a 16% increase year-over-year.

Additionally, three-bedroom apartments were rented in October 2023 for an average price of 683 euros, an 18% increase compared to the previous year.

The total transactions of individual units in Bucharest since the beginning of the year follow national trends, decreasing each quarter compared to the same period last year.

There is a recovery in the number of transactions in the third quarter (July-September 2023 vs. 2022), with a decrease of only -9%. In the second quarter (April-June 2023 vs. 2022), the decrease was 32%, while in the first quarter (January-March 2023 vs. 2022), the decrease was 22%. Moreover, transactions made with credit are also showing a recovery, increasing by 1% in the third quarter (July-September 2023 vs. 2022).

Regarding transactions on Storia, if in 2022, 46% of transactions on Storia were for renting apartments and houses, in 2023, this figure increased to 48%. Since the beginning of the year, most transactions on Storia have been made for selling purposes (52%) versus 48% for renting purposes.