• Real estate market analysis for apartaments in Cluj Napoca 2007

Real estate market analysis for apartaments in Cluj Napoca 2007

The prices of both the apartments from new buildings and those from old buildings have increased during the first month of this year with at least 3000 Euro, the reason for which is said to be Romania’s adherence to the European Union. Although not even analysts did not exactly enderstand the phenomenon, prices remain at this level even if most of the clients have not fully accepted this step made by the owners or the builders of apartments.
On the other hand, according to a study made by Global Property Guide about the highest prices on square metre at luxury apartments from the residential areas in Europe, Romania is on place 31 with a maximum price of 2350 Euro/sm, the first place being occupied by Monaco (approximately 24.000 Euro/sm), while at the opposite side is Sofia, the capital of Bulgary, with 1050 Euro/sm.
In Cluj Napoca, the maximum price on square metre gets to 1400 Euro. In the following 2 years, prices will constantly grow, and after that there will be a period of stagnation when a good part of the new buildings are finished.
For the old buildings we estimate a raise of 15 – 20% for the next 24 months. Especially the price for the central apartments will grow and that of the apartments from the centre of the main districts of Cluj Napoca. It is getting harder to find a building (new) in the centre or around, which for some people represents an essential fact. The only solution remains the acquisition of apartments in classic buildings. This thing has led and continually leads to a great number of possible clients, but also to a constant increase of price on square metre.
The most sough-after apartments are those with two rooms, due to the price a bit lower, as compared to the one-room apartments which cost almost as much as a modest two-room apartment.

*Prices are strictly orientative, calculated according to location, surface and finishing.

*Prices are strictly orientative, calculated according to location, surface and finishing and the phase in which is the construction.

Although the real estate market seems attractive, it is considered by the analysts as a still immature one, for foreign investors, who are not familiar with the legal prohibitions or the risks they take by investing in a developing market. Even so, Romania is seen as one of the most interesting real estate markets in the central and eastern Europe, one which gives the certainty of an important gain in a relatively short span of time.
Be careful thus where, when and how much you invest. We recommend that you appeal to the services offered by Casa Pitas to benefit from a strong judicial safety but also from the most tempting real estate offers!