Only 15% of the tenants who moved in the last two years in apartments located in the Soseaua Nordului-Herastrau area in Northern Bucharest are Romanians, while the rest are foreigners, according to a study conducted by Nordis real estate agency.

Soseaua Nordului-Herastrau is a premium area in Northern Bucharest, located near one of the city’s largest parks, Herastrau Park. The neighborhood consists of luxury buildings built since 2003.

“In 2013 and 2014, the expats’ demand for rental apartments registered a visible increase. Most requests for this area target 3-room apartments with budgets between EUR 1,000 and EUR 1,500 per month. There are differences between the two categories of clients, Romanians and foreigners. The budgets of Romanian customers stay around EUR 1,000, for unfurnished apartments of three or four rooms, while the expats have budgets between EUR 1,500 and EUR 2,000 per month,” said Emanuel Postoaca, Nordis general manager.

The rent for a 2-room apartment in this area stays between EUR 650 and EUR 900, while for a 3-room apartment the rent can go up to EUR 2,000. For a 4-room apartment, the rent varies between EUR 1,100 and EUR 3,500, while for a penthouse, the clients can pay a rent of up to EUR 7,000.

When it comes to purchases, the situation changes however. According to Nordis, Romanians are the ones that are mainly buying properties in this area, only 10% of the buyers being foreigners. Nordis is a real estate company founded in 2008 by Emanuel Postoaca.

Irina Popescu, irina.popescu@romania-insider.com