News Article Bucharest Iași residential Romania SVN Romania
by Property Forum | Residential

More than 77,200 homes were sold in Romania during H1 2024, up by 16% compared to the same period from 2023, while in Bucharest-Ilfov area the growth stood at 25%, according to a report by SVN Romania based on official statistics.

The biggest growth in home sales was registered in Iași, up by 71.4% year-on-year. The increase was determined by the registration in 2024 of the final sale-purchase documents for agreements closed in previous years. The weakest result was registered in Argeș, where the number of homes sold fell by 11.5% year-on-year.

”The first half of 2024 was a good one for the local residential market, with sales home sales up nationally by 16%, driven by the decrease in interest rates, especially fixed ones, where the threshold of 5% per year was broken, but also by the best level of accessibility in the modern history of the residential market,” says Andrei Sârbu, CEO of SVN Romania.

The CEO added that the average net wage has exceeded €1,050 nationally, which means that currently about 81 average wages (6.7 years) are needed to buy a one-bedroom new apartment in Bucharest. By comparison, around 96 average wages (or about 8 years) was needed for the same transaction in early 2023.