Rents on three and four-room apartments in Bucharest reached a peak of the past 12 months, at an average of EUR620 and EUR981, respectively, in March. The average rent on two-room apartments rose slightly in the past year, to an average EUR389 a month, while rents on studios decreased slightly to an average EUR245 in March.
“There has been an increase in sale offers to the detriment of rentals. This led to lower supply, which cannot keep up with demand, leading to higher prices,” imobiliare.net said in a report based on average rental prices in Bucharest in march.
Compared to March last year, the average rental price of four-room apartments increased 8%, the highest growth rate among all types of housing. Rental prices on three-room apartments rose 5% in the past year.
Average prices on two-room apartments and studios remained relatively constant in the past year, as two-rooms saw a growth of 1.2%, while studios dropped slightly, by less than 1%.
Average rental prices also increased in March compared to February. The average rental price of four-room apartments in Bucharest rose 6% on the month, from EUR921 in February to EUR981 in March.
Three-room apartment rental prices rose 5% on the month, from EUR590 in February to EUR620 in March.
Two-room apartment rent prices rose 4% on the month, from an average EUR373 in February to EUR389 in March, while studios remained constant.