Bucharest ranked the most affordable capital city in Eastern European for renters
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Loading... - Bryce Landry
- 09 Sep 2024
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Bucharest has been ranked as the most affordable capital city for renters in Eastern Europe, according to a recent study by Storia, a real estate platform by OLX. The analysis places Romania 13th out of 31 European countries in terms of rental affordability, with Bucharest ranking 9th among European capitals.
The study measures rental affordability using the rent-to-income ratio, which compares the average rent to the average salary. In Romania, the average monthly rent for a one-bedroom apartment outside central urban areas is approximately EUR 302, while the average net monthly salary is around EUR 1,040. This results in a rental affordability index of 0.29, making Romania more affordable compared to other Central and Eastern European countries.
In Bucharest, the average rent is EUR 359, against an average net salary of just over EUR 1,200 per month, leading to a rental affordability index of 0.3. This positions Bucharest on par with cities like Copenhagen, despite the latter having higher salaries and rents. Bucharest is also more affordable than other Eastern European capitals such as Sofia, which has a rental affordability index of 0.31, Bratislava (0.41), Budapest and Warsaw (0.42), and Prague (0.44).
Răzvan Ceapă, Head of Operations at Storia & OLX Imobiliare, noted that despite significant rent increases in recent years, rents in Romania remain relatively affordable compared to average incomes, especially in comparison with other countries in Central and Eastern Europe.
