Brașov County becomes the second-largest real estate market in Romania after Bucharest
The number of apartment transactions in Romania decreased by 21% in the first seven months of 2023, according to data from the National Agency for Cadastre and Real Estate Advertising (ANCPI). However, Brașov County bucked the trend.
The number of transactions involving individual units in Brașov County has only decreased by 11% in the first seven months of this year compared to the same period last year. This makes Brașov the second-largest real estate market in Romania after Bucharest, as analyzed by Economica.net.
The increase in transactions in Brașov can be attributed to a number of factors, including the city's growing economy, its popularity as a tourist destination, and its proximity to the mountains. It is also home to the Transilvania University of Brașov (UniTBv), which attracts young professionals who are looking to buy their first home.
The other major real estate markets in Romania, such as Timiș and Cluj, saw significant decreases in the number of transactions.
Nationally, nearly 79,000 apartments were traded, which is 21% fewer compared to the January-July 2022 period.
Despite the national decrease in transactions involving individual units, the decrease is smaller in Brașov compared to that of Bucharest, Timiș, or Cluj. In Timiș, the number of transactions decreased by 25%, and in Cluj, it decreased by 23%. These decreases are likely due to the rising cost of living in these cities, as well as the increasing availability of mortgage loans.
(Photo source: Primaria Municipiului Brasov/Facebook)
