Romania Apartment Rents Fall 12% In 6 Months On Higher Supply

Apartment rents in Romania fell by up to 12% in March compared with September as owners preferred to rent out dwellings rather than sell them, according to a survey of property website imobiliare.ro.

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The increasing number of apartments up for rent countrywide raised the total supply and, implicitly, lowered rents, the website's manager Adrian Erimescu said Thursday.

The largest drop in rent prices was observed for one-room apartments in Constanta, namely by 11.9% and in Timisoara, by 8.9%. Two and three-room apartments in Cluj-Napoca saw a 7.2% and, respectively, 8.3% decrease since last fall, Erimescu also said.

In the capital city Bucharest, the rents for one-room apartments start from EUR150/month, while two-room apartments can be rented for about EUR200-220/month. Rents for three-room apartments in Bucharest start from EUR250/month, according to imobiliare.ro data.

In Brasov, rents start from EUR120/month for one-room apartments, EUR150/month for 2two-room apartments and EUR200/month for three-room apartments.

In the cities of Constanta, Timisoara and Iasi, one-room apartments can be rented starting with EUR140 per month. Rents for two-room apartments start from EUR170-180/month in Constanta and Timisoara and EUR170-180/month in Iasi.

Three-room apartments can be rented for EUR250/month in Constanta, EUR220-250/month in Timisoara and EUR280-300/month in Iasi.

The property website imobiliare.ro was launched in January 2000.

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