Romania, fourth in top European countries with cheapest housing in 2024 (study)
Romania ranks fourth in the top European countries with the cheapest housing, after Turkey, Bosnia and Herzegovina and Albania, with an average price of 1,676 euros/sqm in 2024, up 11.5% compared to the level recorded in 2023, of 1,504 euros/sqm, reveals a specialized study by Deloitte, published on Monday.
At the opposite pole, with the most expensive homes is Luxembourg (reintroduced into the study after a few years of hiatus), with an average of 8,760 euros/sq m in 2024.
The Deloitte Property Index 2025 study was conducted based on data from major cities in 28 countries (21 of which are in the European Union). Overall, 18 of the 28 countries analyzed recorded increases in average house prices, the most significant being in Poland (+19.3%) and Albania (+16.5%), while notable decreases were recorded in Turkey (-12%), Luxembourg (-3.4%) and the Netherlands (-2.3%).
Among the EU member states analyzed in the study, high prices are also recorded in Austria (5,053 euros/sqm), Portugal (5,049 euros/sqm), Finland (4,889 euros/sqm) and Germany (4,800 euros/sqm), while prices below 2,000 euros/sqm are only found in Greece (1,792 euros/sqm) and Romania, with the mention that there is no data on the national average for Bulgaria and Ireland.
'Residential property prices in Europe continue to reflect a complex interplay between constraints on the supply of new homes, namely rising construction costs, tighter financing conditions and more complex regulations, and concerns about the economic outlook and the evolution of living standards in the countries analyzed. Romania is among the countries where prices increased in 2024, amid high demand and a shortage of new homes, and the trend is maintained, at least in the short term, given the increase in VAT to 21% for new homes (including those benefiting from a reduced rate) and uncertainties regarding urban planning rules, mainly in Bucharest. On the other hand, the resurgence of inflation keeps financing costs high, making mortgage loans, which have largely supported the market in 2024', said Irina Dimitriu, Partner Reff & Asociatii | Deloitte Legal.
Luxembourg also dominates the ranking among European cities, with an average price of 11,074 euros/sqm in the capital, while Munich is in second place (10,800 euros/sqm) and Paris in third place (10,760 euros/sqm).
In Romania, the highest prices are recorded in Cluj-Napoca, respectively 2,770 euros/sqm and Brașov (1,897 euros/sqm), while Bucharest ranks third, with 1,757 euros/sqm.
The study's authors emphasize that Romania is among the European states where the most expensive city is not the capital, along with Germany, where Munich ranks first with the most expensive homes, Italy with Milan, and Spain with Barcelona.
The ranking is similar on the rental market. Thus, Luxembourg City is in first place, according to available data analyzed by the Deloitte study, with an average monthly rent of 43.4 euros/sq m.
In second place is Paris, with an average rent of 32 euros/sqm, followed by Dublin, with 31.7 euros/sqm.
Another 15 cities in the analyzed countries have rents in the range of 20-29.9 euros/sqm (including Barcelona - 29.9 euros/sqm, Oslo - 27.3 euros/sqm, Madrid - 27.1 euros/sqm and Amsterdam 26.3 euros/sqm).
Among the cities in the EU states analyzed, the cheapest in terms of rent are Plovdiv, Varna and Sofia in Bulgaria (between 5.7 and 8 euros/sqm), and Patra in Greece (euro/sqm).
In Romania, Bucharest and Cluj-Napoca are tied, with the highest rents among the cities analyzed, at 10.3 euros/sqm on average per month, both increasing compared to the previous year, followed by Brasov, where tenants pay an average of 9.2 euros/sqm per month (similar to 2023).
'The limited supply in the real estate market is also reflected in the increasingly high value of rents, especially in large cities, with development potential above the national average. These areas supported the market also from a transaction perspective, last year, but also in the first part of 2025, when activity also intensified before the entry into force of the new VAT rate for new homes. However, a revival of residential construction is needed, after the decrease of over 20% last year, to ensure the renewal of the housing stock in Romania and, implicitly, to improve the living conditions for the population,' said Marius Vasilescu, Advisory Partner, Deloitte Romania.
The 14th edition of the Deloitte Property Index study analyzes the evolution of the residential real estate market in 28 countries and 77 cities in 2024. All prices included in the analysis are converted into euros, to obtain comparable results.
Deloitte provides global audit, tax and legal advisory, consulting, financial advisory and risk management services. With a history spanning over 175 years, Deloitte covers over 150 countries and territories.
Deloitte Romania offers, in cooperation with Reff & Asociatii | Deloitte Legal, audit services, tax consulting, legal services, consulting and risk management, financial consulting, service solutions and technology consulting, as well as other adjacent services, through 3,200 professionals.AGERPRES (RO - writing by: Oana Tilica, editing by: Mariana Nica; EN - writing by: Catalin Cristian Trandafir)
The content of the www.agerpres.ro website has the exclusive purpose of public informing.
All the information published on this website by AGERPRES is protected by relevant legal dispositions.
It is forbidden to copy, reproduce, recompile, decompile, distribute, publish, display, modify, create derived components or products or full services, as well as any exploitation of the site's content.
Details in the section Terms of Use. If you are interested in picking up AGERPRES news items, please contact the Marketing Department – marketing@agerpres.ro.
The use of the Comments section entails your obligation to respect the AGERPRES terms and conditions in regards to the publishing of comments on the www.agerpres.ro.
Other news in category
Chiriac(CONAF):Lack of sanctions,existence of exceptions have meant that gender balance goal remains only on paper
Law No. 11/2025 pursues the same objective for all companies subject to it—namely, a better balance between women and men on governing bodies—yet its scope does not uniformly cover the Bucharest Stock Exchange's regulated market, leading to significant disparities between its segments, states CONAF President Cristina Chiriac, author of the study 'The Law
Romania says improvised incendiary device placed outside embassy in Switzerland
An improvised incendiary device was placed on the pavement next to the outer perimeter fence of the Romanian Embassy in the Swiss Confederation and caught fire on Monday, Romania's Ministry of Foreign Affairs (MAE) said. According to a ministry press release sent to AGERPRES on Wednesday, the device started a small vegetation fire, which was extinguished b
Chirica:Romanians in the diaspora frequently return home to invest and change things for the better
The Mayor of Iasi, Mihai Chirica, stated to AGERPRES on Wednesday that Romanians in the diaspora frequently return home to invest and bring about positive change, demonstrating that their bond with the country remains deep and active. The mayor's statements were made during the 'Romanian Diaspora - Roots and Horizons' conference. Chi
President Dan: Romanians in the diaspora represent an extraordinary opportunity for Romania
Romanians in the diaspora represent an extraordinary resource for Romania's development and are a potential asset for the country, thanks to the experience and expertise they have gained in more competitive societies, President Nicusor Dan said on Wednesday in a video message addressed to participants at the opening of the 'Romanian Diaspora - Roots and Horizons'
Cernavoda nuclear power plant shut down procedure to begin on Thursday morning (minister)
Defence Minister Radu Miruta said in Sadu on Wednesday that the level of the Danube at Cernavoda had fallen to 182 centimetres, meaning that procedures to shut down the nuclear power plant would begin on Thursday morning, with the process being 'extremely well defined.' 'This morning, the Danube was at 182 centimetres, well below the 185-centimetre
'White on White' embroidery exhibition to open at National Museum of the Romanian Peasant on 19 August
The exhibition 'White on White,' featuring a selection of shirts from the collections of Horatiu Silviu Ilea and Ioana Corduneanu, representing several regions of the country and dating from the interwar period, will open on 19 August at 5:00 pm at the New Hall of the National Museum of the Romanian Peasant. 'The 'White on White' exhibition
LIBRARY TODAY/ Artificial Intelligence and reinvention of libraries in rural Dambovita communities
Rural libraries in Dambovita county are redefining their role in the community by integrating artificial intelligence (AI) and new technologies, transforming themselves from simple book-lending spaces into modern centres of education, inclusion and digital access for all categories of public. Libraries are increasingly integrating AI into activities with the p
Italian actor Riccardo Scamarcio to meet Buzau International Arts Festival public
Italian actor Riccardo Scamarcio, known for his roles in 'John Wick: Chapter 2' and 'A Haunting in Venice,' who will play Pontius Pilate in 'The Resurrection of the Christ,' the sequel to 'The Passion of the Christ' directed by Mel Gibson, will be in Buzau to participate in a meeting with the public during the sixth edition of the Buzau Intern
Bolojan: Every new nursery means support for young families, investment in our children's future
Interim Prime Minister Ilie Bolojan announced the opening of the 100th nursery built nationwide under the government programme for the construction of nurseries. The project is funded by European funds and the state budget. 'We have reached the 100th nursery built and opened nationwide under the government programme for the construction of nurseries, funde
Romania's annual inflation rate falls to 8.16% in July
Romania's annual inflation fell to 8.16% in July, from 10.42% in June, as services prices rose by 13.67%, non-food goods prices by 7.93% and food goods prices by 5.03%, according to the National Institute of Statistics (INS) data published on Wednesday. 'The Consumer Price Index (CPI) in July 2026 compared with June 2026 is 100.58%. The inflation rate
David Popovici reaches 100m freestyle final at European Championships with fastest semifinal time
Romanian swimmer David Popovici, European, world and Olympic champion, qualified for the final of the 100 m freestyle at the European Swimming Championships in Paris on Tuesday evening, posting the fastest time of the semifinals. Popovici set a new competition record, 46.72, after also leading the morning heats with 47.13. Spain's Luca Hoek
Romanian Naval Forces divers destroy two drones found drifting in the Black Sea
Two unmanned aerial systems found adrift in the Black Sea near the Neptun Deep offshore gas project were safely destroyed in a controlled detonation on Tuesday by EOD divers from the Romanian Naval Forces, the Ministry of National Defence (MApN) announced. According to a MApN statement, the systems were spotted at around 8:00 a.m. in Romania's exclusive ec
Darau:We're currently maintaining our sovereign credit rating with great prudence and considerable difficulty
Acting Minister of Economy, USR Senator Irineu Darau, stated on Tuesday that maintaining the country's investment-grade rating was achieved with difficulty, particularly given the current international context. 'As Minister of the Economy (...), I am pleased that we have cleared this hurdle with the two rating agencies, which effectively confirm (...)
Romania seeks EU approval for temporary diesel operation on PNRR-funded railway
Romania is in talks with the European Commission to allow diesel locomotives to operate temporarily on certain sections of the EU-funded Cluj-Napoca-Oradea railway modernisation project while electrification is completed, acting Transport Minister Radu Miruta said on Tuesday. Speaking at a press conference in Salaj County, Miruta said the electrification and r
World-renowned guitarists to headline 21st Harmonia Cordis International Guitar Festival
World-renowned guitarists, including Marcin Dylla, whom The Washington Post has described as one of the greatest talents in classical guitar, will perform at the 21st Harmonia Cordis International Guitar Festival in Targu Mures, Romania's largest guitar festival and one of Europe's leading events dedicated to the instrument. Opening on Tuesday, this ye