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Real estate: Studios, most in demand for rentals in the last ten years
Studios represent the category most in demand for renting in the last 10 years. In May 2023 the average monthly rent was 331 euros, on the rise by 36.2% from 243 euros in May 2013, according to data of a real estate consulting company.
The data collected show that in the past decade, tenants preferred small apartments, to the detriment of larger ones. Consequently, the average rent for one-room apartments grew by 36%, for two-room apartments by 20%, while 3 and 4 room apartments had the same or lower renting prices by 10%.
The analysis shows that the appetite for renting luxury houses dropped considerably.
In fact, regardless pf the construction year, the type of compartments and equipping (furnished/not furnished), studios recorded rent increases. The only segment with a more reduced evolution was that of luxury studios by 7%, while for all the other categories the average monthly rent dropped between 26 and 39%.
At the same time two-room apartments brought additional incomes to landlords in the last tne years. “People who rented such apartments get now, on the average 17.6% more money than in 2013. The biggest rent increase was for recently built two-room apartments (+21.9%) and the unfurnished ones (+24.6%). Older apartments, built before 1977 had a 6.2% increase, while luxury two-room apartments represent the only segment for which monthly rent is the lowest (-11.2% in May 2023 against 2013)”, according to a press release.
Imobiliare.net shows a very interesting evolution for bigger apartments meant to be rented in Bucharest. For most of them, the average monthly rent wither stagnated (-0.67% for 3 rooms), or dropped (-9.1% for 4 rooms).
A possible explanation for dropping apartment rents concerns higher utility costs: thermal energy, has and electricity.
The analysis made by imobiliare.net was based on collecting data posted on the platform over May 2013 – May 2023.