The Increase in Real Estate Prices in Cluj-Napoca Continues to Advance
The upward pace of real estate prices in Cluj-Napoca does not seem to stop. Despite expectations that the current level would have reached a threshold comparable to that of countries with much higher incomes, the real estate market in Cluj-Napoca continues to surprise. Recent analyses, completed at the end of the quarter, highlight a new increase in the price per square meter.
According to an analysis carried out by imobiliare.ro, Cluj-Napoca ranks among the cities with the most expensive homes in the country. The owners in Cluj-Napoca request an average of 2,631 euros/sqm for apartments, an exorbitant amount for the Romanian real estate market. Compared to two years ago, prices have increased by 14%, and in the last three months they have increased by 4%.
This price average reflects the demands of the owners, and there are both more expensive and more affordable apartments on the market than the mentioned average.
Thus, at this quarterly average price of 2,631 euros/sqm, the apartments in Cluj-Napoca rival those in the luxury areas of Bucharest, such as Aviatorilor-Kiseleff and Floreasca. Although they do not reach the level of areas such as Herăstrău, with an average of 3000 euros/sqm.
In Bucharest, however, there are areas with lower prices, below 1500 euros/sqm, which is not found in Cluj-Napoca. In neighborhoods such as Ferentari, Ghencea or Giurgiului, the average prices for apartments are around 1250 euros/sqm.
Real estate index – IMO Cluj-Napoca:
In March 2024, the sale of apartments in Cluj-Napoca had an even higher average price, reaching €2,704/sqm, with an increase of 1.4% compared to February 2024 and 10.5% compared to March 2023.
The price of new apartments in Cluj-Napoca was €2,857/m2, registering an increase of 2.9% compared to February 2024 and 6.5% compared to March 2023.
Source: stiridecluj.ro
Tags: Apartment prices Cluj equivalent luxury areas Bucharest cost square meter remains highest country
