Apartment prices could double. Which cities and neighborhoods have come into the sights of real estate developers?
The price of apartments could double, even exceeding twice the current prices in the capital, according to estimates by market specialists, who justify the increase by insufficient supply in relation to demand.
Real estate specialists believe that Bucharest has significant potential for development in the residential area, but is currently surpassed in terms of prices by the cities of Cluj-Napoca and Brașov. If a new apartment in the Capital can be purchased, on average, for 2,173 euros/sq mAccording to the Imobiliare.ro Index, a similar home in the west of the country costs about 3,200 euros/sqm, and at the foot of Tampa around 2,500 euros/sqm.
The price of housing in Bucharest will reach 5,000 euros/sqm in a few years
Romanians will buy increasingly expensive homes in the coming years. There are two scenarios that real estate developers expect – either a gradual annual increase in prices by a single digit, or an accelerated, double-digit increase. Only local authorities can influence this evolution, believes Cătălin Priscorniță, CEO of Blitz, a real estate agency present in over 30 cities in the country.
""The city halls must release all these projects that have been delayed for 8-15 years, ongoing PUZs and PUGs that never end. With this infusion of properties into the market comes the correction because the yields are very high in real estate compared to Europe. Investors and developers are making very good money.", Priscornita explained.
"I see, by 2030, in the optimistic version with acceleration, a price of over 6,000 euros in Cluj and 5,000 euros in Bucharest. Anyway, it will be a healthy growth because it is sustainable. This difference between new and old will increase in the coming years. Boutique and medium and large projects will also have their place in the Romanian market because each project has its consumers”, he also mentioned.
The problem of PUZs
Things can change for the better in the next 1-2 years, said Laurențiu Afrăsine, CEO of Akcent Development, recalling the issue of PUZs in Bucharest.
Afrâsine also spoke about his opinion regarding the future relationship between developers and the Capital City Hall. "I don't think we will witness a real estate market boom next year because for now we have an interim who probably won't impose his vision, not having a long enough period of time at his disposal. (…) The next Mayor General will probably at least try to sign and issue authorization requests that have already been submitted for almost 2 years", he also said.
"Regarding the issue of the Bucharest Urban Development Plan, at all the meetings I attended with the former mayor general, we were told that it was on the last few hundred meters. 5 years have passed and we are still waiting", he also emphasized.
Limited supply in the new segment also puts pressure on the old market
"The 30% lower number of offers available on the market requires an over-specialization of the real estate consultant. We need to be better and better at what we do. We also manage the same challenges of a large volume of requests to which you have nothing to offer", said Mădălina Angheloiu, Broker/Owner RE/MAX Properties, at the Imobiliare.ro National HUB event.
In his opinion, the Bucharest market needs large-scale projects that will meet the needs of buyers who are increasingly informed and educated and, beyond square meters, are looking to buy a more comfortable lifestyle.
Which Bucharest neighborhoods have developers set their sights on?
Developers plan to bring 32,000 new apartments to the capital's market by the end of 2028. Over 5,700 of these are expected to be delivered in the Theodor Pallady area in the southeast of the city alone. Another 4,438 units are planned in Pipera, a neighborhood in northern Bucharest that has developed strongly in recent years.
Drumul Taberei is in third place in the list of areas where the most new apartments are planned. In this case, it is 2,341 units, according to data presented by Imobiliare.ro during the Imobiliare.ro National HUB 2025 event, which brought together approximately 400 professionals active in the real estate sector for debates.
The next positions in the ranking of neighborhoods where developers plan the most new apartments are occupied by Băneasa (2,340 units), Colentina (1,657 units), Străulești (1,355 units), Obor (1,333 units), Militari (1,261 units), Rahova (1,220 units) and Berceni (1,194 units).
Until the developers' plans become reality, however, the supply remains at a lower level than that recorded in the first part of last year. Out of a total of 37,530 homes available for sale in the first quarter in the Capital, only 23% were properties completed in the last five years.
The number of new residential projects also decreased by 71% in the first part of this year, if we compare it to the situation recorded in Bucharest at the beginning of 2023. Developers had 211 projects in the works, and most new apartments were available to buyers in the Theodor Pallady, Băneasa, Militari, Drumul Taberei and Obor neighborhoods.
Approximately 2,520 new apartments were put up for sale in the Theodor Pallady neighborhood, with an average asking price of 1,891 euros/usable square meter, up 17% compared to the first quarter of 2023. In Băneasa, those interested in purchasing a home were able to choose the right property from the 1,858 apartments available on the market. These were put up for sale with an average price of 2,682 euros/usable square meter, up 6% compared to the beginning of 2023. Almost 1,000 new apartments were also put up for sale in Militari. The asking prices in this neighborhood increased by 16% in two years and reached an average of 1,887 euros/usable square meter, according to data centralized by Imobiliare.ro.
Prices of 13% and 11% respectively could also be observed in the case of new apartments in Drumul Taberei and Obor. Buyers had over 700 new units available in both areas. However, homes in Drumul Taberei remain more affordable, being put on the market with an average price of 2,033 euros/sqm. Those who wanted to buy a new apartment in the Obor area paid, in the first quarter of this year, an average of 2,864 euros/sqm.
The Capital is Growing, but So is Ilfov County
The development of the new residential segment does not stop, however, on the outskirts of the Capital, but continues apace in the localities of Ilfov County. By the end of 2028, 20,500 new apartments are planned, most of which will be delivered in Ștefăneștii de Jos, Voluntari, Popești-Leordeni, Roșu, Mogoșoia, Tunari, Buftea and Dobroești.
The most extensive offer can currently be found in Voluntari. Approximately 1,500 new apartments were put up for sale here in the first half of 2025, with an average price of 2,711 euros/sqm, up 151% compared to the first quarter of 2023.
Between 200 and 260 apartments can also be found in the localities of Roșu, Tunari and Popești-Leordeni, according to the Imobiliare.ro analysis. Accelerated price increases have been observed in the last two years for homes in the village of Roșu, located in the commune of Chiajna. Those who bought a new home at the beginning of 2025 they paid 24% more for each square meter compared to people who made a real estate purchase in the first part of 2023.
Source:https://adevarul.ro/
