The real estate market in Cluj-Napoca has shown resilience and highest growt in Romania offering various investment opportunities. Both residential and commercial properties have seen appreciation in value.

The city Cluj and its surroundings have the highest ROI in rent and in resale of properties in Romania. If we are speaking numbers and comparisons then we can see that if in the second quarter of 2022 the numbers of the real estate transactions were higher in comparison with the same period of the year 2023, this still stays above the average of the transactions made between 2017-2022.

In the second quarter of 2022 there were 12,560 second hand apartments for sale, in the 2nd quarter of 2023, there were 9,230 apartments for sale, a decrease of 26.5%, although the demand is high.

In the 2nd quarter of 2022, there were 16,620 apartments for rent and only 11,570 apartments available on the same quarter in 2023 . This is a 30% decrease, with an increase in demand for such apartments.

There were 15,329 new apartments build in the 2nd quarter of 2023 in comparison with 15,907 at the same quarter of 2022, which represent a drop of about 3.5%.

When we are speaking about the future and how the market will supply the increased demand for new units, here as well we can see a drop in new building permits. In the 2nd quarter of 2022 a number of 12,603 new building permits were issued, for the same period of 2023, just 9,472, a drop of 24.8%.

In the last couple of years, the real estate market in Cluj-Napoca and the surrounding area witnessed a continuous growth, not just in the purchasing prices. The prices per square meter between 2020-2023 grew by 30%. Between July 2022 and 2023, the prices grew with 2.7% and between March and July 2023 with 1.7%. 

Prices inside the city of Cluj-Napoca have increased and now range between 2,000-3,500 euro/sqm, The prices in the surrounding area ranges anywhere between 1,100 – 2,200 euro/sqm.

The growth is not different even in the rentals. The high demand for rentals and the decrease of the offer in the market, made the prices skyrocket. The demand of rentals for 2020-2022 grew with 123% and for the period 2022-2023 with 98%, average price for rentals being 9.5 euro/sqm, even this increased with 14% in comparison to 2022. 

Besides the impressing growing demand there are more reasons for investing in Cluj-Napoca and it’s surroundings:

• Stable Economic Growth: Cluj-Napoca has experienced consistent economic growth in recent years. It is one of Romania’s most economically developed cities, boasting a diverse economy with strengths in IT, manufacturing, and services.
• Emerging Technology Hub: Often referred to as the “Silicon Valley of Eastern Europe,” Cluj-Napoca has a thriving tech sector. The city hosts numerous IT companies, startups, and tech-related events. This sector’s growth potential is substantial, attracting both local and international investors.
• Educational Excellence: The city is home to prestigious universities, including Babes-Bolyai University. This robust educational ecosystem not only provides a skilled workforce but also fosters innovation and entrepreneurship.
• Access to a Skilled Workforce: Cluj-Napoca has a large pool of highly educated professionals, particularly in fields like IT, engineering, and business. This makes it an attractive location for businesses looking to tap into a talented labor force.
• Strategic Location: Situated in the heart of Transylvania and being considered the capital city of Transylvania, Cluj-Napoca benefits from its central location in Europe. It has good transportation links, including an international airport, making it accessible for business operations and attracting international clients and partners.
• Quality of Life: Cluj-Napoca offers a high quality of life, with a rich cultural scene, excellent healthcare, and recreational opportunities. This quality of life can be appealing to employees and their families, making it easier to attract and retain top talent.
• Supportive Business Environment: Local and national authorities have implemented initiatives to support businesses and entrepreneurs. This includes tax incentives, grants, and programs aimed at fostering innovation and entrepreneurship.
• Cultural Diversity and Multilingualism: Cluj-Napoca is a melting pot of cultures and languages due to its diverse population. This cultural richness can be advantageous for businesses looking to expand internationally.
• Tourism Potential: Beyond its economic strengths, Cluj-Napoca also attracts tourists, contributing to a thriving hospitality and service sector. The city’s historical and cultural attractions, combined with its natural beauty, make it an appealing destination.

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