Thursday, 27 November 2025
Prices in Bucharest’s premium residential market have risen sharply in recent years, reaching record levels in established central areas such as Primăverii, Kiseleff, Aviatorilor and Dorobanți. The increase reflects a combination of limited supply, strict planning restrictions and sustained demand for high-quality properties.
Prices for premium units completed after 2018 have largely doubled over the past two to three years, now ranging between €6,000 and €8,000 per sq m in prime locations, with some exceptional properties priced significantly higher. In several cases, investments amounting to millions of euros have been made solely in finishes or amenities, making standard price-per-square-metre calculations difficult.
Properties completed within the past eight years—including apartments and villas—have also seen substantial value appreciation. High specifications such as restoration works, smart home systems, automated parking, landscaped gardens, swimming pools and enhanced security systems have contributed to this trend.
“One of the main drivers of this price growth relates to the extremely limited supply. In the past 5 or 6 years, no new developments received the necessary permits required in order to commence construction in these premium locations, and vacant land plots are virtually non-existent. The current legislation imposes strict restrictions on the demolition and conversion of older buildings in these protected areas, thus making the existing properties increasingly exclusive and difficult to replicate,” said Raluca Plavita, Head of Residential Agency at Cushman & Wakefield Echinox.
Premium buyers generally take longer to complete transactions, often already owning several properties in Romania or abroad. They typically seek specific attributes such as large plots, generous layouts, privacy, and high-quality amenities. Private investors looking for rare opportunities or rental potential for embassies or multinational tenants form only a small segment of overall demand, resulting in transaction timelines of 6 to 12 months.
Price variations remain notable even within traditionally premium areas. For example, although Floreasca is located near a major office district, its prices usually do not reach those of Primăverii or Dorobanți except in isolated cases. Micro-locations, building age and construction quality continue to strongly influence values.
According to Cushman & Wakefield Echinox, the upward price trend is expected to continue for high-quality properties in key locations, particularly given the absence of new development opportunities. These homes are increasingly regarded as long-term “portfolio properties” rather than typical residential purchases.
The shortage of supply is reflected in the agency’s portfolio, where some properties are now being marketed for the second time, and certain buildings have shifted from residential to other permitted uses. Changes of use have become more complicated due to legal restrictions and long permitting procedures, especially in protected areas or where buildings have historical monument status.
Defining a premium residence involves several criteria. Location is central—particularly Primăverii, Kiseleff, Aviatorilor and Dorobanți—followed by interior and exterior space, configuration, ceiling height, en-suite bathrooms, terraces, swimming pools, high-quality finishes, and advanced security systems.
“The premium residential market continues to set new records, both in terms of prices and exclusivity levels. The extremely limited supply of villas and penthouses in established destinations such as Primăverii, Dorobanți, Aviatorilor, and Kiseleff fuels this dynamic, making each transaction a complex and personalized process. Our clients are searching for more than a home; they seek a secure investment and a distinctive lifestyle, where details make all the difference – from top-quality finishes to smart amenities and generous outdoor spaces. In this context, our role is to identify those unique properties which meet both functional and aesthetic requirements, and to provide a truly tailor-made consultancy,” said Raluca Plavita.
Cushman & Wakefield Echinox’s residential department manages a significant portfolio of high-end properties, including villas and penthouses valued at over €200 million, and has been involved in several high-value transactions.
Among the most expensive listings is a property priced above €13 million, featuring over 200 metres of lake frontage, an 8,000 sq m landscaped garden and a 3,000 sq m building, notable for its scale and customised finishes.
Another property, offered at more than €12 million, is located near the Ministry of Foreign Affairs. The building was converted into office space, fully renovated while retaining its 1940s façade, and includes two underground levels for 25 cars, glass lifts, open-plan floors and a top level with 360° glazing.
The portfolio also includes a listed property with dual frontage on Aviatorilor Boulevard, designed by architect Duiliu Marcu, known for works such as Palatul Victoria, Palatul CFR and Palatul Elisabeta. The villa underwent a five-year consolidation and renovation, preserving key façade elements.
Source: Cushman & Wakefield Echinox
Photo: Raluca Plavita, Head of Residential Agency at Cushman & Wakefield Echinox.
