• Apartment new or old in Cluj Napoca?

Apartment new or old in Cluj Napoca?

A city with around 400 000 inhabitants to which adds year by year a considerable number, there is a very profitable market on the real estate segment of dwellings from Cluj Napoca.
The apartments market is also very profitable in present and yet, very controversial at the same time.
Romania’s adherence to the European Union, the great demand of apartments, have all created difficult situations for the purchasers interested and fruitful situations for the sellers and real estate developers.
Due to the favourable circumstances (the extremely great demand), the prices of apartments, whether in old or in new buildings, have often taken over common sense, if we take into account the fact that we live in Romania and we have wages incomparably smaller than those from the European Union.
In present the offer of dwellings has varied, the prices have not undergone through major changes, and if we are in the situation of buying an apartment we must decide whether we should live in a classic building or in a new one or, if we pursue an investment, what should we opt for: new or old.

Who buys apartments in classic buildings?
The opinions of the knowing are varied as well as the interests and the possibilities of the clients.
A dwelling in a classic building requires other investments, as it does not correspond to the current building norms (they are not very well isolated, there might arise problems with the plumbing which is old, etc.) and moreover their prices are pretty high; however, a real advantage of classic apartments is that they can be acquisitioned through bank credits and are thus accessible to a larger number of clients for whom this way of payment is the optimum one. There are however some people interested with the purpose of making an investment but in this case the criterion of acquisition is the area in which they are situated. In this respect, classic apartments have a certain advantage compared to the new apartments which are located farther from the centre and the access ways are still unasphalted or, anyway, difficult. They can be acquisitioned for the investment and because one can get advantageous rents, this segment being profitable in Cluj-Napoca due to the great number of students who look for accomodation close to the centre or to the buildings in which they study. Even if it is bought as a dwelling or for the investment a classic apartment clasic has high prices often higher than the apartments in new buildings. Depending on the area, the degree of finishing and the surface, the prices can vary between 45 000- 200 000 Euro, and for the following period it is expected a stagnation of at least 3 months. But since the market is full of surprises, we might expect to other changes, either in minus, or in plus, however not major ones.

People in search of a dwelling may also opt for an apartment in a new building.
The offer is pretty varied from the point of view of surfaces, finishing and area, while prices vary according to these characteristics. There are a lot of advantages: a dwelling modernly finished, built with quality materials, does not need further investments, is often personalized with the effort of the builder, etc. A disavdantage lies however in the fact that they can not be acquisitioned by credits and are thus less acccessible to the ones interested. Most of them are not accessible right away and it takes a certain period of time to finish the building. Another problem might be that not all the builders are honest and it is possible that the dwellings be of a poorer quality. Moreover, the fact that they are built in farther areas makes the access rather difficult. If you intend to buy a dwelling and you don’t know exactly which option is the optimum one for you NEW/OLD you will have to clarify at first what would be the use of your apartment and which are your priorities.
We trust in your capacity to manage by yourselves but we also remind you that advice from the specialists who know the market very well are always welcomed. They can help you to make a realistic assessement of the dwelling and present you the pluses and minuses of each option so that you could easily take the best decision.

An article offered by Casa Pitas