Apartment Searches in Bucharest Rise, Defying 5-Year National Decline

Searches for apartments for sale in Bucharest have gone up, indicating a clear upward trend in the last 12 months, while at the national level, the number of online searches for real estate has slightly decreased compared to last year, shows an analysis by a SEO and enterprise digital marketing agency in Romania.

Rising prices, amid inflation and high interest rates, have affected the interest of potential home buyers. But, at the same time, investors are looking for alternative forms of investment, and the growing number of building permits in Bucharest shows that there is offer to match de demand.

This downward trend at the national level has already been going on for about five years, according to the data we constantly analyze. In February this year, there were significant increases compared to the previous year in terms of transactions, while in January and March, the number of transactions was slightly lower. At the beginning of the year, there was still a significant growth before the entry into force of the increased VAT on real estate transactions, but even so, some locations are proving to be more competitive than others,” said Steffen Heringhaus, founder of five elements digital.

The number of online searches for real estate is higher in Bucharest than in other parts of the country, indicating a high interest in the capital’s real estate market. However, the top 10 cities by search remain relatively constant, reflecting stability in the preferences of potential buyers. Brașov is in 2nd place, followed by Cluj-Napoca, Constanța, Timișoara, Iași, Craiova, Oradea, Sibiu, while Galaţi and Ploiesti are tied in last place.

However, we are seeing increases in recent years for rental, i.e. a relatively stable demand, unaffected by the declines that have been observed on the buy/sell side,” added Steffen Heringhaus.

The online is the main channel that potential buyers use to get in touch with real estate projects. Therefore, investments in this communication channel allow real estate companies to reach potential customers in a targeted manner and to strengthen their competitive advantage in the market, improving the buying experience.

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