After the 8.5% advance of November against the same month of 2023, in December price growth accelerated to 8.6%. Thus, the price average in December 2024 reached EUR115,000, in line with ZF real estate index compiled together with real estate consultancy SVN Romania, around EUR600 above the previous month’s average.
The 21% decline in deliveries of new housing units in the first nine months of 2024 will exert rising pressure on the market of Bucharest and Ilfov old apartments, a reason why consultants expect rising prices.
“We expect prices to rise against 2024 and given the current context there should be an increase in the number of deals. The main argument is the affordability of buying a house, which is at the best level in modern history,” explained Andrei Sarbu, SVN Romania CEO.
Of the 13 Bucharest areas taken into account, just three posted declines in December against November, while another three accelerated. Year-on-year, eight areas registered growth, while three posted declines. Moreover, five areas registered two-digit growth.
(English version by Catalina Apostoiu)