Cluj Day | Real estate spring in Cluj. How much does an apartment cost at the beginning of the season?

In Cluj-Napoca, there is the smallest difference at the national level for the asking price of new and old apartments.

In March of this year, nationally, the prices of apartments for sale registered an increase of 11% compared to March of last year. The asking price per square meter for new apartments for sale increased by 13% in March 2024 vs. March 2023, while the price of old apartments increased by 9% on average, according to the latest data provided by a specialist platform.

Comparing the prices of new apartments for sale with those of old apartments in the 9 analyzed cities, the cities with the most ads on the platform, a number of differences are observed.

How expensive the apartments in Cluj-Napoca have become. Little price difference between old and new

According to a storia release, in Cluj-Napoca we find the smallest price difference between the two types of buildings (new vs. old), with a difference of less than 1% in favor of new apartments. Also, the biggest price difference is found in Brașov, where old apartments are 9% cheaper compared to new apartments. At the same time, the cities of Iasi and Sibiu remain the only ones where the prices of old apartments are higher than the prices of new apartments by 3% and 4%, respectively.

In March this year, the average prices for new and old apartments in Cluj-Napoca were 2,651 euros/square meter. Also, the average asking price for a new apartment was 2,653 euros/square meter, 7% higher compared to March 2023. Old apartments in Cluj-Napoca had an average asking price of 2,649 euros/square meter, 12% higher than in the same month of the previous year.

Apartments are selling faster than last year

In terms of the lifetime of property for sale ads on the site, it has decreased by 41% compared to March 2023 and by 29% compared to February 2024, showing that user interest is higher and properties it trades faster. Concretely, the shorter the exposure time of the ads on the website, the faster the transaction speed of the properties mentioned in the real estate ads.

“Analyzing the latest data, we found a firm trend of increasing interest in apartments for sale (+56%), outstripping the increase in interest in houses for sale (+32%). In parallel, we also noticed a reversal of direction in the rental market, with a decline in the increase in interest for rental apartments (-12%). These developments reflect not only the changing preferences of consumers, but also a different dynamic in the real estate market”, said Răzvan Ceapa, Head of Operations Storia & OLX Imobiliare.