Apartments and houses in Bucharest are unaffordable for more and more people, as housing prices have continued to rise over the past year despite a lower number of transactions, according to the Imobiliare.ro Index, which has monitored the evolution of the residential market in the main urban centers for over 15 years.

Residents of Bucharest felt the price increases the most over the past year. Postponing the purchase decision by one year became equivalent to a 26% increase in the average asking price for new apartments (EUR 2,632 per square meter) and 12% for those in old apartment buildings (EUR 2,232). To all this are added the recent fluctuations in the leu/euro exchange rate, which have increased home prices by tens of thousands of lei from one week to the next, according to real estate specialists.

Bucharest is not alone when it comes to unaffordable housing. The average asking price for apartments listed for sale by owners and developers reached EUR 2,025 per usable square meter nationwide, after a 12% annual increase, according to the same source.

While prices have only gone up, the number of transactions has fallen. In the first four months of 2026, housing transactions fell by 15%. 

"At this moment, buyers are rather reluctant to take action. The lack of confidence in tomorrow, a feeling reinforced by the immediate effects reflected in the evolution of the exchange rate following the recent government crisis, adds to a series of concerns caused by high inflation, interest rates, and changes in the labor market,” said the marketing director of Imobiliare.ro, Daniel Crainic, cited by Digi24.

Waiting vs. Buying

The same Imobiliare.ro survey detailed the fears and hopes of respondents regarding purchasing a home. It showed that the optimism of those waiting for an imminent bursting of the "real estate bubble" and a dramatic fall in prices seems increasingly subdued (16%).

At present, most Romanians actively searching for a property (33%) believe that homes will continue to become more expensive until the end of 2026. Another 27% expect only a slight price correction, while 24% of respondents cannot tell where housing prices are headed, which makes them hesitate to make a final purchase decision.

The main reasons for concern among Romanians wishing to buy property are also related to prices. About 76% of those surveyed said they fear that the asking price does not reflect the real value of the property they are interested in. Another 13% are worried that if they continue to postpone the purchase, they may no longer be able to afford the home they want. Of the total, 7% fear that prices will fall immediately after they buy a property. Only 4% of respondents have no concerns about housing prices.

Most people actively looking for property during this period (44%) want to make a real estate upgrade, whether it is a home that offers more space or one located in a better area. A significant proportion are also those who want to become homeowners for the first time (32%). Finally, real estate investments are still seen as an excellent way to protect savings by 14% of respondents, while 10% want to generate income from renting out the purchased homes.

Approximately 41% of those who took part in the survey said that negative news about the economy has a very strong influence on them when it comes to the decision to buy a home. For another 13%, this is an aspect that encourages them to negotiate the price more aggressively. There is also a large number of active potential buyers on the market (35%) who prefer to base their purchase decision on their own information, without taking negative news into account. 

Most potential buyers would make the final purchase decision without hesitation, either if they found an excellent offer (44%) or if housing prices dropped overnight by at least 15% (42%). For 9% of those interviewed, clarification of the economic and geopolitical context could be the decisive factor in completing the purchase of a home. Only 5% believe they would buy a property more quickly if loan offers available on the market were more favorable.

Most dynamic areas of Bucharest

Despite rising prices, residents of Bucharest remain among the buyers who make purchase decisions the fastest. If in the first quarter of last year the average duration from an apartment entering the market to its sale was 52 days, things have not changed significantly in the same period this year, standing at 54 days. For comparison, in Brașov, the time required for owners to identify buyers increased from 64 to 72 days, and in Constanța from 68 to 78 days.

Among the most dynamic areas in Bucharest is Timpuri Noi. For each apartment listed for sale here, an average of 6 potential buyers showed interest, which translates into a 22% increase in demand compared to the first quarter of 2025.

Similarly, apartments in Drumul Taberei attracted, on average, 4 potential buyers, with local demand increasing by 10%, just like homes in Dristor. In the latter case, however, demand increased more, namely by 13%. The Bucureștii Noi district has also become an attraction point on the real estate map. On average, 4 potential buyers showed interest in each property listed for sale, with demand increasing by 31% compared to the beginning of last year.

Aside from buying, demand increased by 20% for renting in Bucharest, both for old homes and new ones. The major obstacle faced by those who wanted to rent was the ever-decreasing number of available properties on the market. The total supply of homes fell by 27% compared to the first quarter of 2025.

The Militari district, the cheapest in the city, remained an attraction point for Bucharest residents. On average, 6 potential tenants showed interest in each apartment placed on the market. Demand thus increased by 13% compared to the beginning of last year.

Another 5 potential tenants showed interest in each apartment for rent in the Dristor area, which translated into a 35% increase in demand. For each home in the Piața Iancului area, 4 potential tenants showed interest, and for those located in the Constantin Brâncoveanu area, another 3 potential tenants. Demand increased here by 20% and 18% respectively year-on-year.

The survey conducted by Imobiliare.ro during May involved 1,420 respondents, potential buyers actively looking for an apartment or house in Romania, interested both in new homes listed for sale by developers and in properties available on the existing market.

radu@romania-insider.com

(Photo source: Viorel Dudau|Dreamstime.com)