Apartments in Bucharest have gone up in price by 20%. Top cities with the biggest price increases

In December 2025, Bucharest recorded the largest increase in the average price for apartments among Romania's large cities (+20%), the second largest price increase being recorded in Craiova.

Old apartments in Bucharest are almost 25% more expensive than new ones. Archive photo

The prices of new and old apartments increased during the past year in all major cities, according to the average prices requested by owners in the ads published on a well-known real estate platform in Romania.

Thus, Cluj-Napoca is still the most expensive city in Romania, with an average cumulative price of 3,228 euros/m2 in December 2025, 9.4% higher compared to December 2024.

On the other hand, in December 2025 the biggest increase compared to the previous year was registered in Bucharest, where the asking prices increased by 20.3%, to 2,262 euros/sqm. Based on this increase, the Capital became almost as expensive as Brașov, a city where prices increased by 8.1%, up to 2,280 euros/sqm. Two other cities where the average price exceeded the symbolic threshold of 2,000 euros/sqm are Constanța (2,036 euros/sqm, +6.5%) and Craiova (2,034 euros/sqm, +18.5%).

Oradea recorded in December 2025 the fourth highest percentage price increase during 2025 (+11%), but even in this context it remains among the cities with the lowest average sales prices in the country, with a cumulative average price of 1,851 euros/sqm. The only large city in Romania with lower average prices than Oradea is Iași, where the lowest percentage increase was recorded, by 2.9%, to 1,760 euros/m2.

“In 2025, apartment prices continued to rise compared to the previous year, but at a different pace from one city to another, which accentuated regional differences in the real estate market. For 2026 we expect a more predictable context on the real estate market. After periods of accelerated growth in previous years, it is very likely that the pace of growth will moderate. This does not imply price drops, but rather slower and more predictable developments. According to the estimates of financial institutions, 2026 could bring a decrease in interest rates and a tempering of inflation. If this scenario is confirmed, access to finance could become more attractive, boosting demand, especially in the second half of 2026″said Monica Dudău, representative of Storia and OLX Imobiliare in Romania.

Bucharest: the biggest difference between new and old apartments

The capital has by far the largest price discrepancy between new and old apartments, and this has widened over the year. Thus, in December 2024, old apartments were 21% more expensive than new apartments, so that in December 2025 the price difference would increase to 24.8%.

The data shows that this trend accelerated after August 2025, when the reduced VAT rate was abolished and the standard VAT rate increased from 19% to 21%.

Thus, in December 2025, the average asking price for old homes in Bucharest reached 2,528 euros/m2, up 22% compared to December 2024, while the average price for new homes grew at a slower pace, by 18%, to 2,025 euros/m2.

One of the explanations why Bucharest has the biggest difference between new and old housing is that the largest residential projects of new housing are built in areas located more towards the outskirts of the city, as the number of available plots in the central areas is reduced.

During the year, average prices for new apartments saw monthly increases in 9 of the 12 months of the year compared to the previous month, while for old homes prices increased in 10 of the 12 months of the year compared to the previous month.

Brașov remains the second most expensive city in Romania

Brașov is one of only three cities where the price differences between old and new apartments are practically negligible, even though the prices of old homes have grown at a slightly faster rate (+9%) compared to new homes (+7%).

Thus, in December 2025, old apartments were sold for an average of 2,286 euros/sqm, compared to the average price of 2,260 euros/sqm requested by real estate developers for new apartments. Practically, at the end of last year, old apartments were 26 euros/m2 more expensive compared to new apartments, which in percentage means 1.2%.

In this case, there is a reversal of the growth trend during the year, as in December 2024 new apartments were slightly more expensive (+0.6%) compared to old apartments. Such differences between the prices of new and old apartments are normal when the price difference per square meter is very small and does not significantly influence the market.

Cluj-Napoca: the smallest differences between new and old apartments

The city that has by far the highest apartment prices also stands out for the smallest difference between the average prices of old and new homes.

The data shows that, in December 2025, old apartments in Cluj-Napoca cost 3,235 euros/sqm, up 10% compared to December 2024. At the same time, the average price for old apartments increased by 9%%, to 3,221 euros/sqm. In other words, the difference between the price of old apartments and the price of new apartments was only 14 euros/sqm.

As in Brașov, in Cluj-Napoca there is a slight reversal of the situation during the year. In December 2024, old apartments were 1.1% cheaper compared to new apartments, so that in December 2025 old apartments were 0.4% more expensive than new ones.

Constanta: the lowest percentage increase for new apartments

Constanța is another city where the price differences between new and old apartments were minor, but this came in the context where the pace of price growth for old apartments was about twice that of new apartments.

Thus, prices for old apartments increased by 8%, to 2,042 euros/sqm, while new apartments increased by 4%, to 2,026 euros/sqm. Therefore, the real estate market in Constanța ended 2025 with a difference of only 0.8% between old and new apartments.

Last but not least, among the 9 cities analyzed, Constanța is the city that recorded the lowest percentage increase in prices for new homes (4%), being followed in this ranking by the most expensive cities in Romania, Brașov (+7%) and Cluj-Napoca (+9%).

Craiova: the second highest price increase for old apartments

In 2025, Craiova became the fifth most expensive city in Romania for housing, amid price increases recorded for both new and old homes.

The prices of new apartments in Craiova are higher (2,106 euros/sq m) compared to the prices of old houses (2,019 euros/sq m), in the context where this does not happen in the 4 most expensive cities in the country. In other words, new apartments in Craiova are 4.3% more expensive compared to old apartments.

However, this trend is not new for the real estate market in Craiova, as prices increased at a similar rate during 2025, by 18% in the case of new apartments and by 19% in the case of old apartments. From this point of view, Craiova reported the second highest percentage increase in prices for old apartments and the third highest percentage increase in prices for new apartments.

Iasi: the city with the most affordable new homes

Iasi stands out for the most affordable prices for new apartments, as real estate developers requested an average price of 1,835 euros/sqm in December 2025. In contrast, the owners requested an average of 1,976 euros/sqm for the old apartments.

Thus, in December 2025, old apartments in Iași were 7.7% more expensive compared to new apartments, and a greater difference in favor of new apartments is registered only in Bucharest (+24.8%).

During the last year, prices in Iași have increased uniformly, by 12% in the case of old apartments and by 11% in the case of new apartments. Practically, prices in Iași increased at a faster rate compared to cities such as Brașov, Cluj-Napoca or Constanța, but at a slower rate compared to Bucharest.

Oradea: the most affordable old houses

In Oradea, owners requested 1,810 euros/sqm for old homes, less than in any other big city in Romania, even though in December 2025 prices were 10.8% higher than in the similar period of 2024.

Meanwhile, the prices of new homes increased at a similar rate, by 12%, up to 1,996 euros/m2. However, even if the rate of growth is similar, it is worth noting that Oradea still remains the city with a significant difference between the prices of old and new housing.

Thus, old apartments in Oradea are 9.3% cheaper compared to new apartments, and such a difference in favor of old apartments is not registered in any of the other 8 cities included in the analysis, given that Oradea is anyway among the cities with the lowest apartment prices among the analyzed cities.

Sibiu: the lowest increase for old apartments

If we refer to the counties of which the cities included in this analysis are part, Sibiu is by far the one where the fewest real estate transactions are carried out, approximately four times less compared to Brașov, Cluj or Constanța.

In this context, the data show that Sibiu is the city with the lowest percentage increase in the prices of old houses (+7%), up to 1,899 euros/sq m in December 2025. In contrast, the price of new apartments increased at a rate more than twice as high, with 14%, to 1,942 euros/sq m.

Practically, following these developments during 2025, the roundabout between the two types of apartments occurred: if in December 2024 old apartments were 4.8% more expensive than new apartments, in December 2025 old apartments became 2.2% more affordable compared to new apartments.

Moreover, monthly data shows that new apartments in Sibiu have become more expensive than old apartments since August 2025, when the reduced VAT rate for new apartments was eliminated and the standard rate was increased from 19% to 21%.

Timisoara: the biggest price increase for new apartments

Among the analyzed cities, Timișoara recorded the highest price increase for new apartments. In the city in western Romania, real estate developers requested an average of 2,033 euros/sqm in December 2025, 21% more compared to December 2024.

Conversely, in the segment of old homes, prices increased by 8%, at a rate more than twice as slow, to 1,882 euros/sq.m.

Inevitably, this discrepancy in growth also led to an increase in cost differences between the two types of homes analyzed. Basically, in December 2024, old homes were 3.6% more expensive than new homes, so that in December 2025, old homes were 7.4% cheaper compared to new homes.

Overall, the real estate market in Romania has seen in-line increases for December 2025 asking prices in the country's 9 largest cities over the past year, and this is true for both new and old homes. However, increases varied significantly from one city to another or between old and new apartments in the same city, depending on demand from buyers, but also depending on the number of new homes delivered and the areas where they were built.