The monthly report conducted by Storia, ro “Today’s rental market” shows, in the November edition, the evolution of prices compared to the previous month, but also to the same month last year. The report considers the Top 10 cities in Romania, the most active on the rental market, from the perspective of the number of published ads: Bucharest, Cluj-Napoca, Brașov, Constanța, Timișoara, Iași, Craiova, Sibiu, Oradea, Arad.
According to the Storia.ro report, the statistics look atypical for this time of year. Although November is typical for prices to stabilize or even register slight declines, this year rental prices have continued to rise, despite the fact that November is out of seasonality for rents, with the typical peak being in the months of August- September.
The biggest increases from month to month (November 2022 vs. October 2022) are recorded in Constanța, where studios are 11% more expensive, and 3-room apartments, by 10%. Studios in Oradea have a 13% higher price, and in Iași by 8%.
In Bucharest, the increase occurs in 3-room apartments, by 9%. At the opposite end, there are decreases of only up to 4% for studios in Timișoara and for 3-room apartments in Cluj-Napoca.
In Oradea, the average rent increases, in general, are 5% compared to November 2021 and 3% compared to last month of this year. For studios, the rental price increased by 13% compared to the previous month and by 6% compared to last year. For 2-room apartments, rents have stagnated compared to October this year, but have increased by 12% compared to last year, going from 260 E to 300 E. A 3% decrease was recorded for 3-room apartments, both compared to the previous month and compared to the same month last year.
Constanta locals pay 100 E more in rent, compared to November 2021, for apartments with 2 and 3 rooms, the price reaching 400 E and 500 E/month, respectively. In fact, Constanța has the highest year-on-year rent increases of all 10 cities analyzed, for all types of apartments: for studios, rents increased by 39%, for 2-room apartments, by 33%, and for those with 3 rooms, by 25%, the average increase being 32%. Compared to last month, the rental price stagnated only for 2-room apartments, while for studios it increased by 11% and for 3-room apartments by 10%, the average increase being 7%, month to month month.
In Bucharest, the average rent for a 3-room apartment reached 599 E, up 9% compared to the previous month, and for a 2-room apartment it stagnated at 450 E and for a studio at 300 E. The increases compared to the same month last year are 11% for 3-room and studio apartments and 15% for 2-room apartments.
In Iași, rents for 2- and 3-room apartments are stagnant compared to last month. Thus, the rent for 3 rooms in Iasi reached an average of 500 E, while for 2 rooms, it reached 400 E. In the case of studios, the increase is +8% compared to last month and +27% compared to from last year, reaching an average value of 280 E. On average, rent increases are +23% compared to last year and +3% compared to the previous month.
On average, rents in Arad are 11% more expensive compared to last year and 2% compared to the previous month. The 3-room apartments in Arad stagnate, as a rental price, both compared to last year and compared to last month, settling at 350 E/month. In contrast, rents for 2-room apartments rose to the 300E mark, 20% more than last year, being at the same level as last month. For studios, the increase compared to last month is 6%, while compared to last year it is 13%.
In Craiova, the rents of 2- and 3-room apartments remain at the same level compared to last month, with only studios increasing by +6%. Compared to last year, rents are 22% more expensive for studios, 9% for 2-room apartments and 14% for 3-room apartments. On average, rent growth is 15% year-on-year and 2% month-on-month.
A 4% decrease in rents for studio apartments is registered in Timișoara, compared to the previous month. Compared to the previous year, studio apartments have 15% higher rents. 2-bedroom apartments were up 13% year-over-year and 6% month-over-month, while 3-bedroom rents were up 14% year-over-year and flat month-over-month. On average, rents in Timisoara stagnated compared to October 2022, but increased by 14% compared to November 2021.
Compared to last month, in Sibiu, studio apartments are more expensive to rent by +9%, while 2-room apartments stagnate, and 3-room apartments are down by -2%. Thus, the average rental price increased by 18% compared to November 2021 and by 2% compared to October 2022.
In Cluj-Napoca, a 3-room apartment rents for 650 E, 4% less than last month. 2-room apartments have an average rent of E500, up 20% from last year and flat from the previous month. Studio apartments, with an average rental price of 326 E, have more expensive rents by 16% compared to last year and by 2% compared to the previous month. On average, rents rose 21% year-over-year and fell 1% month-over-month.
The month of November brought a 4% increase in rents for studio apartments compared to last month and 12% compared to the previous year. Rents for 2- and 3-room apartments stagnated compared to last month, but increased by 15% and 22%, respectively, compared to the same period last year, reaching 420 E and 550 E. On average, rents increased, in Brașov, up 16% from last year and up 1% fr