In this regard, Logos Press decided to study the trends and prices of apartments currently offered on the real estate market in the Romanian city of Iasi, the closest to Chisinau.
It should be noted at once that the comparison with Chisinau can be quite conditional, the population of the Moldovan capital has 665,5 thousand inhabitants (according to the census of 2024). The agglomeration of Iasi (with its suburbs) has 316.5 thousand people (according to the World Population Review for 2024).
According to Romanian publications, the residential real estate market in Iasi in 2024 was characterized by active demand and rather high rates of price growth. One of the main criteria for assessing the market is the supply and demand ratio. In Iasi, the demand for renting and buying apartments is steadily increasing due to urbanization and rising living standards. This, combined with the limited supply of affordable housing, has led to a significant increase in apartment prices – both in the secondary market and in the segment of new construction.
Specialists also note that buyers prefer mainly new apartments, which indicates that the standards of comfort and quality of housing have changed.
An important indicator is the number of transactions, which, although affected by the price increase, remains stable, indicating the continuing interest in the real estate market in Iasi.
According to the Romanian National Agency of Cadastre and Real Estate Advertising, from 2017, the lowest number of apartment sales in Iasi was registered in 2019 (3,638) and the highest in 2024 (9,935). In comparison, in Chisinau (with suburbs), 16141 apartments were sold in 2024 (+6% to 2023).
Specialists note a significant increase in interest in apartments for sale, especially those located in large districts of the city, such as Buchum, Copou, Nicolina or Tătarasi.
Prices vary depending on the city’s neighborhood. The most expensive properties are in the Center. According to Golden Capital Advisors Group agency (registered in Iasi) the average price of a studio apartment in a new building is 2200 euros per square meter. The price per square meter of a one-bedroom apartment is 2175 euros on average, while the price of a two-bedroom apartment is 2055 euros. The average price increase compared to 2023 amounted to 14%.
In the sector of Kopou, which is famous for its extensive park area, the average price is about 1900 euros / sq.m. (+12%). In the dormitory district of Tătăraş 1700-1750 EUR/sq. m (+18%). In the Nicolina sector, which is considered peripheral, 1400 euros (+11%).
It should be noted that it is not correct to compare the prices for apartments in new buildings with Chisinau, because in Romania apartments are delivered “turnkey”, buyers only have to bring and arrange the furniture. While in Chisinau it is different stages of “white variant”, which require additional repairs, finishing, etc.
The residents of Iasi, like the residents of Chisinau, quite often use mortgage loans for their purchases. According to the portal Imobiliare.ro, the average cost of such a loan is 68.5 thousand euros with a monthly payment of 402 euros.
According to analysts’ observations, on the real estate market in Iasi, the difference between new and old apartments is becoming more and more noticeable, which is reflected in the average asking price. While new apartments offer modern amenities, energy efficiency and favorable location, older apartments often offer more space and unique character.
On the secondary market in Iasi, 9,235 apartments were sold in 2024, or 38.3% more than a year earlier.
Prices are slightly lower than in new construction. In the center of Iasi, a one-bedroom apartment in an old house costs about 1750 euros/sqm, a two-bedroom apartment – 1675 euros/sqm. On average, prices have increased by 14%.
In Păkurar sector the price per sq. m is 1500 euros, in Kopou – 1600 euros. In Tătărăş sector 1450 euros, which is 10% more expensive than a year earlier, while in 2023 prices soared by 40-42%.
“This sector is compared to our Botanica – there is a lot of greenery, close to the airport and relatively close to the center. In this area are mostly 5-9-storey houses and there are very few of them compared to Kopou, for example,” says real estate market expert Radu Shitov. – There is a very good demand for this neighborhood from buyers and a limited supply on the “secondary” market. Plus there are very comfortable apartments with an area of 40-42 square meters (like our 142 series), they are very well sold, because they are ideal for renting, given that there are many universities in Iasi, it is a student city. The rental price for them is 300-350 euros per month”.
In his opinion, in the factors affecting the residential real estate market in Iasi and Chisinau, there are both many similarities and peculiarities. Chisinau, first of all, is the only major urban center in the country, which attracts residents from all districts. Its market is influenced by internal migration. The capital has more developed infrastructure, amenities, more opportunities to find work. There are many large cities in Romania, and people have more choice of places to live, as well as the choice of real estate purchase.
In the future, the direction of the real estate market in Iasi will be determined to a large extent by external factors, such as economic development at the national and international level. Financial stability, mortgage interest rates and urban development policies. These factors will also continue to influence real estate investments, determining the future of this market.
