During the past 12 months, apartment rental prices were on downward trend mainly in Bucharest’s prime locations, while rental rates in “low-cost” areas either stagnated or were on upward trend.
The study conducted by real estate portal Imobiliare.ro is based on a variation of the average rental price for studio flats and apartments with two and three rooms in 18 districts in Bucharest, between October 2012 and October 2013.
Studio flats in 1 Mai district, located in one of the city’s prime areas, saw the biggest decline in rental rates, of up to 7.1%, down to an average price of EUR260/month. The Dorobanti-Floreasca prime area comes second, with a 6.3% decrease in rental rates, down to EUR300/month.
Berceni is the only district in the category of “low-cost” districts where rental prices went down in the past 12 months (-4.3%), reaching EUR220/month.
Rental rates for studio flats were relatively flat in most districts in Bucharest, during the past year, but they also saw an increase in some areas.
On the segment of two-room apartments, rental prices fluctuated, but mainly kept a downtrend trend.
Bucharest’s 1 Mai and Mosilor prime areas saw the biggest decline in rental rates (-12.5%) down to EUR350/month. A significant decrease, of 11.4%, was also registered in “low-cost” Colentina district, where rental prices for two-room apartments fell to EUR310/month.
Crangasi places first among “low-cost” districts witnessing an increase in rental rates during the past year, with an advance of 10% up to EUR330/month. Dristor-Vitan Vechi comes second with a 6.1% increase in average rental prices, up to EUR350/month. Rental rates in Bucharest’s Kiseleff-Aviatorilor prime location rose 3.7% to EUR700/month in the mentioned interval.
Rental rates on the segment of three-room apartments were generally flat, compared to last year’s rents, in the most affordable districts. Price declines were registered mainly in the city’s prime locations.