How many salaries for an apartment in Romania : complete analysis
Apartment prices in Romania 2008-: evolution and trends
The Romanian real estate market has gone through significant cycles over the past 17 years. After the peak in 2008 (approximately 1,450 EUR/sqm in major cities), the global financial crisis caused a sharp drop in prices, with a low recorded in 2013 at around 870 EUR/sqm — a 40% correction. Recovery began timidly in 2014, supported by the Prima Casa program and economic growth.
Since 2015, prices have risen steadily, surpassing pre-crisis levels in 2019. The COVID-19 pandemic did not stop the upward trend, with demand boosted by remote work and low interest rates. In 2024, the average price reached 1,950 EUR/sqm, and estimates for 2025 indicate 2,050 EUR/sqm.
How many salaries do you need for an apartment — housing purchasing power
The average net salary has increased from 1,309 RON in 2008 to approximately 5,200 RON in 2025 — a 4x increase in nominal terms. However, adjusted for inflation and relative to real estate prices in EUR, housing purchasing power has grown more modestly. In 2008, an average salary was equivalent to 355 EUR, while in 2025 it is equivalent to about 1,045 EUR.
The key ratio — the number of salaries needed for a 55 sqm apartment — has decreased from approximately 225 in 2008 to about 108 in 2025, indicating a significant improvement in affordability. However, this indicator varies greatly by city: Cluj-Napoca remains the most expensive city, and Galati the most affordable.
Rent vs buy — what's worth it in ?
The decision between renting and buying depends on several factors: time horizon (under 5 years favors renting), availability of down payment (15-25% of the price), income stability, and interest rate. With the current IRCC and a bank margin of 2-2.5%, the monthly payment for a 30-year mortgage remains competitive compared to equivalent rent in most cities.
General rule: if the monthly mortgage payment (including insurance and fees) is below 35% of net income, buying is sustainable. Above 40% means over-indebtedness and increased financial risk.
Most affordable cities in Romania
Galati, Craiova, and Oradea offer the best price-to-income ratios for homebuyers. A 2-room apartment in Galati costs under 63,000 EUR, compared to over 163,000 EUR in Cluj-Napoca. Brasov and Sibiu represent a good compromise between quality of life and affordability.
Outlook -2027
Analysts estimate moderate price growth (3-5% annually), supported by the shortage of new housing, rising salaries, and ongoing urbanization. Interest rates could gradually decrease if inflation stabilizes below 4%, improving access to mortgage credit. Government programs (Noua Casa, ANL) remain important factors for middle-income buyers.