In the last ten years in Romania were built around 500,000 homes, most of them in 2008, 67,255. In the recent past, after the economy rebound, 2017 is the year with the most homes buit, with around 53,300. Important changes appeared in the structure of the housing market, as far as the surface and the number of rooms.
Even if the market grow, the comfort offered, at least from the surface point of view, dropped. According to a Storia analysis, the average surface of the new homes fell from 75 sqm in 2012, to 65 sqm in 2017 and these days a two-rooms apartment of only 40 sqm or a three-room one of less than 65 sqm are not a surprise.
Another big change is the diminishing number of one-room apartments on the market. If in 2008, around 8 percent of the apartments built were one-room, in 2017, the percentage dropped to 5 percent. Instead, a growth of around 7 percentage points, from 25 percent to 32 percent is visible in two-room apartments area. The problem is, lately, that the surface of many two-room homes is closer to a studio, strategy used in order to keep the prices as low as possible.
So, Romania will remain the first European position in the top of over-populated dwellings especially that the living surface decrease from almost 70 sqm in 2008, to 65.8 sqm last year.
9 million homes in 2018
According to Storia’s study, this year the Romanian residential market could exceed nine million dwellings, from around 8.5 million in 2008.
Good news for property loving Romanians, of which around 96 percent (the most in Europe) live in homes they own.
The problem is that one of five live in unfit houses, without, water or gas services, with missing bathrooms or kitchens. Plus, an important percentage, of 10 to 15 percent of the dwellings are very old, built before the Second World War.
Certailny the market needs new homes, given the quality of the old ones, but the solution to reduce the surface for price reasons must stop, or else the Romanians are going to live in the same uncomfortable homes like today, but new.