Forecasts for the 4th quarter: The real estate market remains on an upward trend

The current fiscal and economic context determines both buyers and investors to hurry up their purchase decisions in Q4 as well. In terms of residential, the main behavioral changes aim at the migration of demand towards old apartments, benefiting from the elimination of the impact of the VAT increase. At the same time, an increased demand for smaller and more affordable housing is anticipated, especially in large cities, where the pace of transactions will be supported by the constant interest in the central and semi-central areas.

„Old apartments have the advantage of a price excluding the increased VAT, remaining on average below the unit cost of new ones, so they attract greater interest, especially among those who want quick transactions. It is very likely that this segment will register a shortening of the average sale time, especially where owners are represented by professional agents who can correctly capitalize on market opportunities,” said Răzvan Cuc, president of RE/MAX Romania.

Regarding the evolution of prices, estimates show that large cities will continue to register more pronounced increases, led by Bucharest, perceived by specialists as a still undervalued market. Also, localities benefiting from major infrastructure projects, those near the new sections of the Moldovan Highway, will have the chance to perform above the national average.

The rental market will remain dynamic even after the peak in September, especially in university centers, where high demand is maintained amid demographic growth. In addition, the increase in taxes for landlords will cause many of them to adjust rental prices in the coming period.

In terms of investment, the end of the year is also expected to be intense. Traditionally, Q4 brings a wave of purchases from investors who allocate their budgets before the end of the year. In 2025, this phenomenon will be accelerated by the prospect of an increase in dividend taxation in 2026, which determines the withdrawal of capital from companies and their orientation towards the real estate market. At the same time, discussions regarding the possible increase in transaction taxes in the near future increase the motivation to invest before the end of the current year.