A major part of the population still lives in rented housing, namely 13% of Romanians aged 18-55 years in urban areas, while around 18% share the house they do not own with parents, relatives or friends, shows a recent survey conducted by Unlock Market Research for Colliers among around 1,000 city respondents.
“In line with Eurostat statistical data, around 95% of Romanians own houses and this percentage makes us the country with the biggest number of owners in the entire Europe. Nevertheless, many apartments are in fact rented, especially in major cities,” says Gabriel Blanita, Associate Director Valuation & Advisory Services at Colliers Romania.
While rents have registered an average 10% increase in Bucharest in the past year, renting remains a more advantageous option than buying, according to Colliers consultants.
At present, housing supply in compounds exclusively destined for renting in Bucharest stands at almost 1,000 units, with another over 3,000 units under various stages of construction, but specialists estimate that in the next 2-3 years the segment has the potential to reach 5,000 housing units.
While Romanians’ interest in rented housing is high, the desire to become owners is still strong. Compared with other East-European countries, Romania is more affordable for buyers.
(English version by Catalina Apostoiu)