Romania

Old but well-refurbished, small apartments in Bucharest, Romania’s capital city, cost less, per square metre (sq. m.)  than larger apartments. A 50 sq. m. apartment costs around EUR1,500 per sq. m. while a 120 sq. m. apartment costs around EUR 2,000 per sq. m.

We used the “useful area” instead of the “built area” when we computed for the sq. m. prices because we only included old apartments in our survey. When one buys an old apartment in Bucharest, he buys only the useful area. But when a developer sells an apartment, he sells the built surface. Therefore, the buyer becomes co-owner of the conjoint spaces, according to Ilias Papageorgiadis, CEO of MORE Real Estate Services and author of the blog www.iliaspapageorgiadis.ro.

Average apartment prices per sq. m. in Bucharest are just about at the same level as in its neighbor Belgrade, where prices per sq. m. range from about EUR1,800 to EUR2,000.

Rents on apartments in Bucharest range from EUR8.71 per sq. m. to EUR9.47 per sq. m. per month. One can rent a 50 sq. m. apartment for about EUR400 per month.

The gross rental yield for apartments in Bucharest range from 5.57% to 7.09%, with small apartments fetching the highest rental returns.

The apartments included in the survey are located in the prime residential areas of Aviatiei, Aviatorilor, Baneasa, Calea Victoriei, Cotroceni, Domenii, Dorobanti,  Floreasca, Kiseleff, Primaverii, Pipera and Scoala Herastrau.