Bucharest leads Romania in old versus new apartment price gap, analysis shows
Among all cities in Romania, the capital has had the largest price difference between old and new apartments, with old homes being EUR 520/sqm more expensive than new ones, according to an analysis released on Thursday, May 28, by real estate platform Storia.
Bucharest’s old homes were priced at EUR 2,535/sqm, while new homes stood at EUR 2,015. Compared to Bucharest, in Oradea and Timișoara the trend was reversed, with new apartments exceeding the prices of old ones by differences of over EUR 183/sqm, according to the average asking prices for 1-3 room apartments in listings.
Romania’s residential market remained active in May 2026, with visible year-on-year increases in most major cities. The largest percentage price increases year-on-year in the new apartment segment were recorded in Constanța, Timișoara, and Craiova (12%). For old apartments, the highest annual increases were at 15% in Craiova, 14% in Bucharest, and 12% in Timișoara. Compared to the previous month, prices remained largely stable for both new and old homes, according to the analysis cited by News.ro.
Interest in old homes remains high, especially in well-positioned areas, and this is visible in cities such as Bucharest, Brașov, or Timișoara, where old apartments are significantly more sought after than new ones, according to the same source. Meanwhile, in cities such as Cluj-Napoca, Iași, or Sibiu, interest in the two segments is closer.
If a year ago old apartments generated approximately twice as many searches as new ones, the difference has increased this year, so that old apartments were searched for approximately three times more than new ones. Interest was also amplified by the recent fiscal changes, including the VAT increase, which has a more visible impact on the new housing segment.
Apartment prices
If a studio apartment in a new building in Bucharest costs approximately EUR 74,568, an old one costs EUR 93,795. For a two-room apartment, the price is EUR 104,799 (new) and EUR 131,820 (old), while for three rooms, EUR 133,014 (new) and EUR 167,310 (old).
In Brașov, the average asking price in May 2026 is EUR 2,295/sqm for new apartments, up 4% compared to May 2025 and 1% below the level in April, unlike old apartments with an average price of EUR 2,383/sqm, 8% higher year-on-year and 2% above the previous month. Relative to the minimum legal areas, a studio apartment in a new building costs approximately EUR 84,920, while an old one costs EUR 88,171. For a two-room apartment, the price is EUR 119,347 (new) and EUR 123,916 (old), while for three rooms, EUR 151,479 (new) and EUR 157,278 (old), according to Storia data.
In May 2026, the average asking price in Cluj-Napoca is EUR 3,310/sqm for new apartments, 6% more than in the same month last year and at a similar level to the previous month, respectively EUR 3,317/sqm for old apartments, up 6% year-on-year. A studio apartment in a new building costs approximately EUR 122,458, while an old one has a price of EUR 122,729. For two rooms, the price is EUR 172,103 (new) and EUR 172,484 (old), while for three rooms, EUR 218,439 (new) and EUR 218,922 (old).
On the seaside, in Constanța, the average asking price in May 2026 is EUR 2,141/sqm for new apartments, while old apartments reach EUR 2,146/sqm. A studio apartment in a new building costs approximately EUR 79,216, while an old one costs EUR 79,402. For two rooms, the price is EUR 111,331 (new) and EUR 111,592 (old), while for three rooms EUR 141,305 (new) and EUR 141,636 (old).
In Craiova, new apartments have an average price of EUR 2,147/sqm in May 2026, while old apartments reach EUR 2,131/sqm, up 15% year-on-year and 1% compared to April 2026. A studio apartment in a new building costs approximately EUR 79,449, while an old one costs EUR 78,847. For two rooms, the price is EUR 111,658 (new) and EUR 110,812 (old), while for three rooms EUR 141,720 (new) and EUR 140,646 (old).
Prices are somewhat lower in Iași, where the average asking price in May 2026 is EUR 1,885/sqm for new apartments, compared to EUR 2,034/sqm for old apartments.
In Oradea, new apartments have an average price of EUR 2,071/sqm in May 2026, while old ones are EUR 1,888/sqm, up 8% year-on-year.
In Sibiu, the average asking price in May 2026 is EUR 2,011/sqm for new apartments and EUR 2,009/sqm for old apartments.
At the same time, in Timișoara, new apartments have an average price of EUR 2,095/sqm, compared to EUR 1,990/sqm in the case of old ones.
“We increasingly see situations where old apartments reach prices similar to or even higher than new ones, but most of the time, the explanation is related to location. Old homes are generally more central and better connected to the city infrastructure: transport, schools, services, and this matters greatly in the purchasing decision,” said Monica Dudău, Head of Marketing Real Estate Europe, OLX Group, parent company of Storia.
(Photo source: Vlad Ispas|Dreamstime.com)
