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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Kiwi Finance: Housing affordability in Romania is highest in 17 years

Romanian credit broker Kiwi Finance, part of the OLX Group, has launched the first housing affordability index that takes into account the salaries paid in different localities, Ziarul Financiar reported. It reflects the average price of the residential properties (apartments and houses), per square meter, expressed in average monthly wages.

Bucharest has among the most affordable housing in Romania, and Cluj and Constanţa are the most expensive.

Bucharest is one of the most affordable cities in Romania and ranks first among the major cities in the EU in terms of the residents’ capacity to buy a home, while Constanta and Cluj have the least affordable housing nationwide but still remain well-positioned at the European level, the study shows.

The national average is now 1.8, up from 4.5 in 2008. The index shows that in December, at the national level, the average price was EUR 1,289 per sqm, the equivalent of a multiple of 1.8 times the average net salary, which indicates the highest affordability since 2004.

During the real estate bubble in 2007-2008, the index reached 4.5-5. The current level indicates a state of equilibrium, a state that Romania has stayed for several years already.

According to the Kiwi Finance real estate index, in Bucharest, the average price per sqm of housing properties is EUR 1,486, while the average net salary in the capital city is RON 4,612 (about EUR 932), which results in an affordability index of 1.59, a level not seen in the past 15 years. The houses in Bucharest are thus about three times more affordable than in 2007-2008.

(Photo: Pexels)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Kiwi Finance: Housing affordability in Romania is highest in 17 years

Romanian credit broker Kiwi Finance, part of the OLX Group, has launched the first housing affordability index that takes into account the salaries paid in different localities, Ziarul Financiar reported. It reflects the average price of the residential properties (apartments and houses), per square meter, expressed in average monthly wages.

Bucharest has among the most affordable housing in Romania, and Cluj and Constanţa are the most expensive.

Bucharest is one of the most affordable cities in Romania and ranks first among the major cities in the EU in terms of the residents’ capacity to buy a home, while Constanta and Cluj have the least affordable housing nationwide but still remain well-positioned at the European level, the study shows.

The national average is now 1.8, up from 4.5 in 2008. The index shows that in December, at the national level, the average price was EUR 1,289 per sqm, the equivalent of a multiple of 1.8 times the average net salary, which indicates the highest affordability since 2004.

During the real estate bubble in 2007-2008, the index reached 4.5-5. The current level indicates a state of equilibrium, a state that Romania has stayed for several years already.

According to the Kiwi Finance real estate index, in Bucharest, the average price per sqm of housing properties is EUR 1,486, while the average net salary in the capital city is RON 4,612 (about EUR 932), which results in an affordability index of 1.59, a level not seen in the past 15 years. The houses in Bucharest are thus about three times more affordable than in 2007-2008.

(Photo: Pexels)

andrei@romania-insider.com

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