Fewer housing units expected to be completed in Bucharest

Real estate developers plan to complete 32,000 new apartments in Bucharest by the end of 2028, according to Economica.net, quoting data provided by Imobiliare.ro.

However, the current supply of housing units remains low, the publication argues. But not by historic levels:the number of new housing units completed in Bucharest has surged over the decade to 2023 from 3,300 in 2014 to 13,800 in 2023 (latest data available). For the entire Bucharest and neighboring region Ilfov, the number of completed housing units indeed decreased from 21,000 in 2023 to 17,000 in 2024, marking a steep decline.

Of the 37,530 homes available for sale in the capital city in the first quarter of 2025, only 23% were completed in the last five years, argues Economica.net to conclude the insufficient supply of new housing units. Given the large stock of old apartments, the 23% share looks, however, rather high.

Furthermore, the number of residential projects in progress decreased by 7% compared to the same period in 2023 to 211, according to Economica.net.

In terms of prices, the increases are significant in the most dynamic neighborhoods. In Theodor Pallady, where about 2,520 new apartments were listed, the average asking price reached 1,891 euros/sqm, up 17% compared to Q1 2023. In Băneasa, the average price was 2,682 euros/sqm (+6%), and in Militari, new apartments have increased in price by 16% in the last two years, reaching 1,887 euros/sqm.

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