In calculating the instalment / wage ratio an average price of €90,000 (EUR 1,800 / square meter) was taken into account, up 11,8% compared to January 2024. The average interest rate for mortgage loans granted in Bucharest in January this year was of 5.79% according to calculations made by financial consultant SVN Credit Romania, resulting in an average monthly instalment with an equivalent value of €481. At the same time, the average net wage considered for January was of €1,111 at a national level – comparatively, the average wage recorded in December 2024 was €1,134 according to the data of the National Institute of Statistics.
The last time the instalment / wage ratio had a similar value was at the beginning of 2022, when the average mortgage instalment held a percentage of 44% of the average net wage at a national level, according to Ipotecare.ro. The average interest rate on the mortgage segment was of 3.85% in January 2022, the minimum recorded in the last decades, thus resulting in an average instalment of €311 for the same one-bedroom apartment worth €75.000. On the other hand, the average net wage at a national level was of €749 in January 2022, about 48% smaller than the current level.
„After two difficult years, which translated into a significant increase in mortgage costs, 2024 brought an important decrease in the cost of loan, as a result of mortgage interest rates decreases, especially on the fixed rate segment. At the same time, the average net wage continued to increase at a rhythm higher than the inflation rate, surpassing €1,100 at a national level and contributing to the improvement of the accessibility of contracting a mortgage loan. Although important, interest rates should not be the only indicator considered, with the instalment / wage ratio being at least as important. 2025 thus began in a better context compared to the previous years and we estimate that this year will bring a notable increase in the existing demand on the mortgage market”, commented Catalin Marin, managing partner SVN Romania | Credit & Financial Solutions, the exclusive partner of Ipotecare.ro.
The accessibility of contracting a mortgage loan is today over five times better than the one registered at the beginning of 2008. Then, the average instalment for a mortgage loan necessary for buying a one-bedroom newt apartment in Bucharest was about 2.3 times higher than average wage at a national level. It should also be considered that the average incomes recorded in Bucharest are about 25% higher compared to the national average, which makes the actual instalment / wage ratio even better.
Mortgage loans worth €9.2 billion were granted in total in Romania in 2024, up 42% compared to 2023, according to the National Bank's data – please note that this volume also includes refinancings, conversions, transfers and restructurings. The number of homes sold in Romania in 2024 was 6.6% compared to the result recorded in 2023, according to the statistics of the National Agency for Cadastre and Land Registration.
Ipotecare.ro is an exclusively online broker, which uses multiple algorithms for generating the most optimal financing option for each specific situation. SVN Romania | Credit & Financial Solutions is one of the most important mortgage brokers in Romania, with a volume of €160 million mortgages brokered in 2024. The company has four offices in Bucharest and 14 in the country, in Arad, Bacau, Brasov, Calarasi, Cluj – Napoca, Constanta, Craiova, Iasi, Oradea, Ploiesti, Ramnicu Valcea, Sibiu, Timisoara and Targoviste.
