Bucharest apartment rents down up to 4 pct in August on increased offer

Newsroom 03/09/2013 | 10:51

Some 10.6 percent more apartments were up for rent this August (y-o-y) in Bucharest, which led to average rents decreasing by up to 4 percent, according to real estate site AnunturiParticulari.ro.

Average rents asked by owners dropped for all apartments expect three-bedroom properties in August compared to the same period last year, according to the same source. The largest drop, of up to 4 percent, was reported for one-bedroom apartments. The average rent for such an apartment last month was EUR 308 per month.

The average rent for studios was EUR 222 per month last month, down 1 percent m-o-m and 2 percent y-o-y. Two bedroom apartments reported an average rent of EUR 419 which meant a drop of one percentage point m-o-m, but also a one percentage point increase y-o-y. Three-bedroom apartments could be rented for an average of EUR 631, the same level as the previous month but up 12 percent y-o-y.

2,889 more apartments were available for rent this August compared to the same month last year. Out of this, 1,219 were one-bedroom apartments and 1,043 were studios.

Simona Bazavan