Apartment prices increased in all major cities in Romania in March 2026 versus March 2025, while the rental market has shown its limits, with rents staying the same or even dropping, according to real estate experts consulted by News.ro.
The price of apartments increased by varying percentages in the last year, from 3.6% in Galați to 12.5% in Bucharest. Cluj-Napoca remained the most expensive city in the country (EUR 3,104/sqm), while Brașov surpassed the EUR 2,100/sqm threshold (EUR 2,171/sqm).
Apartment purchases
Along with higher prices came changes in buyer behavior. Clients took longer to make purchasing decisions, with greater reluctance toward buying properties in the project phase. They also paid closer attention to price, construction quality, and the developer’s track record.
The need for security became increasingly clear, and many clients showed willingness to pay technical experts to inspect a home and confirm that the developer’s promises were supported by on-site reality, according to Claudia Negru, owner of the real estate agency The List Estates.
Developers also faced new challenges, given the higher VAT and tighter regulations on large advances paid by clients. “Many developers are turning to credit lines, a longer and more expensive process that places additional pressure on development budgets,” Negru added.
In Bucharest, the supply of new properties in the ultra-central area declined, while permits for new projects were issued in other sectors. Taking Ilfov County into account as well, estimates indicate more than 20,000 housing units are expected to be delivered this year, a volume that supports the market as a whole.
Rentals lower
Compared to apartment purchases, the rental market had a different evolution. In many cities, rents have stagnated or declined, including major centers such as Iași (-12.5%), Constanța (-11.1%), Oradea, and Ploiești (-14.3%).
The only notable exception is Timișoara, where rents increased by +16.7%. This means that purchase prices are rising faster than the income generated by properties, which is beginning to put pressure on yields and the investment rationale.
“Three things are happening simultaneously that are changing the logic of real estate: prices continue to rise, rents are stagnating or even falling in certain cities, and supply is becoming increasingly abundant. This mix is beginning to reduce pressure and shift negotiating power toward the buyer,” said Cătălin Ivan, co-founder of the real estate analysis platform imo360 and VIB Imobiliare agency.
The rental segment, however, is still dynamic. “We have observed a significant increase in rental transactions, which shows that, for some clients, renting has become a transitional solution: they prefer to remain flexible until the market becomes more predictable or until they find a truly good purchasing opportunity,” Negru said.
Oana Popescu, Head of Residential at Crosspoint Real Estate, spoke growing demand in the rental segment, although the stated preference remained ownership. “Many potential buyers are postponing the purchase decision because of high prices, a direct consequence of the VAT increase, and are waiting for the moment when their own income will allow them to access a loan or cover the required down payment,” she noted.
Fewer permits, higher supply
At the national level, the National Institute of Statistics data showed that the number of building permits for residential buildings fell by almost 5% in the first quarter of 2026 compared with the same period last year, while total deliveries in 2025 dropped below 58,000 units, the lowest level in the last eight years. This means that the pipeline of new projects remains limited for the next 18–24 months.
The paradox is that, at the same time, active market supply increased in almost all major cities. In Bucharest, active supply increased by 6.9% compared with the same period last year (from 44,950 to 48,043 apartments). Other cities also showed significant increases: Ploiești (+23.8%), Galați (+18.8%), Brașov (+18.2%), Craiova (+18.3%), Oradea (+17.1%), and Constanța (+10.5%), according to imo360 data.
In short, although less construction is taking place in 2026, supply is more visible because the market is no longer absorbing properties at the same speed as in previous years.
(Photo source: Moruzx|Dreamstime.com)
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