Home sales increased in Romania with an annual rate of 6.6% in 2024, according to a report released by real estate consultant SVN Romania based on official statistics. The rise in Bucharest and the surrounding Ilfov county was 7.6%.

Almost 169,000 residential units were sold last year in Romania, while home sales registered in the Bucharest-Ilfov region, the largest regional residential market, surpassed 60,000 units, according to statistics published by the National Agency for Cadastre and Land Registration and synthesized by SVN Romania. 

Andrei Sarbu, CEO of SVN Romania, commented: “2024 was a good year for the local residential market, despite some negative forecasts. The main factors that led to this result were represented by the wage increases, the affordability of buying a new home, and the decrease of fixed interest rates for mortgage loans.”

“On the other hand, home deliveries decreased in several regional centers in the country, including Bucharest and its surroundings, a fact that will, unfortunately, also be registered this year. With rising home sales and deliveries decreasing, the pressure on prices will increase even more. However, we estimate 2025 will be another good year for the local residential market,” he added.

In 2024, Timisoara, in western Romania, again became the most important regional residential market after Bucharest-Ilfov, considering the total number of residential units sold, surpassing Iasi, Cluj-Napoca, Constanta, and Brasov.

The most pronounced increase in home sales among the most important regional markets was recorded in Iasi, in eastern Romania, at 38.1% compared to 2023. On the other hand, the weakest result was registered in Brasov, where the number of sold residential units decreased at an annual rate of 11%.

irina.marica@romania-insider.com

(Photo source: Dechev/Dreamstime.com)