Romanian property rental market

An introduction

 

Accommodation in Romania differs significantly between the capital, Bucharest, and the rest of the country. Single-family houses are common in villages and small towns, whereas blocks of flats and housing estates are more frequent in big cities.

Romanian property rental market

The number of owner-occupied homes is quite high and exceeds the EU average. Long-term rentals are not very common. This does mean that it is not always easy to find apartment blocks with rental accommodation. However all over the country you can find houses and flats for rent. The cost of rental varies a lot depending on the location, ease of access, condition of the property, etc.

Kevin Stillmock in The Next Big Property Boom 2007 states that the property market boom in Romania has previously been seen most clearly in Bucharest where the value of apartments has increased significantly. The boom in the market has been mirrored in Timisoara and continued on to Brasov, which saw an incredible average property value increase of 212% in 2005. Opportunities in these areas remain plentiful. However, they are clearly past their prime. Recent economic indications and a depreciation of the Leu mean that demand has decreased and the future direction of the market is far from certain.

The number of owner-occupied homes is quite high and exceeds the EU average. Long-term rentals are not very common. This does mean that it is not always easy to find apartment blocks with rental accommodation. However all over the country you can find houses and flats for rent. The cost of rental varies a lot depending on the location, ease of access, condition of the property, etc.

Kevin Stillmock in The Next Big Property Boom 2007 states that the property market boom in Romania has previously been seen most clearly in Bucharest where the value of apartments has increased significantly. The boom in the market has been mirrored in Timisoara and continued on to Brasov, which saw an incredible average property value increase of 212% in 2005. Opportunities in these areas remain plentiful. However, they are clearly past their prime. Recent economic indications and a depreciation of the Leu mean that demand has decreased and the future direction of the market is far from certain.

Further reading

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