Business Forum • 14 January, 2025 at 2:54 PM
Sales of houses and apartments increased by 7.6% in Bucharest and Ilfov region, in 2024, compared to 2023, according to an analysis by SVN Romania. During the same period, national sales increased by 6.6%.
Almost 169,000 residential units were transacted in Romania in 2024. Additionally, in Bucharest and Ilfov, the country's largest regional market, sales exceeded 60,000 units, according to data from the National Agency for Cadastre and Real Estate Advertising (ANCPI).
“The main factors that led to this result were salary increases, the general improvement in the accessibility of buying a home, and the decrease in fixed-rate interest rates. On the other hand, new housing deliveries decreased in several regional centers in the country, including Bucharest and its surroundings, a trend that will unfortunately continue this year. With increasing sales and decreasing deliveries, the pressure on prices will increase even more. However, we estimate that 2025 will be another good year for the local residential market,” said Andrei Sârbu, CEO of SVN Romania.
In 2024, Timișoara once again became the most important regional residential market in Romania after the Bucharest-Ilfov region, considering the number of sold homes, surpassing Iași, Cluj-Napoca, Constanța, and Brașov.
The biggest increase in home sales was recorded in Iași, at 38.1%, while the weakest result was recorded in Brașov, where the number of residential units sold in 2024 was 11% lower compared to 2023.