Romanian Property News

Most of the information about the evolution of the market in Romania focus on Bucharest, which is a very good example for the price growth and the subsequent profit for potential investers. While apparently neglected, the other major cities in Romania do follow the trend. For example Cluj, the main city in the Transylvannia region (yes, the one typically associated with Dracula, which therefore attracts a considerable touristic interest) also went through substantial price increases which, although do not match the absolute figures in Bucharest, are comparable in terms of relative increase. The Edil real-estate agency recently produced a statistic of the price market for appartments in the city of Cluj. The table below summarises their findings (the prices are all expressed in Euro).

 Note: The entries marked * indicate that the respective flats went through major refurbishing (typical throughout Romania for properties currently available for sale). The reason behind refurbishing is typically aesthetics – in their original shape and form, the flats do not provide much (if any) in terms of interior design or architecture.

As it can be seen from the figures, although studio flats did not reach the 35000-45000 Euro levels seen in Bucharest, their average price almost tripled over the past four years, evolution which does resembles the one seen in the capital. Cluj is by no means a singular example, but, due to the variety of properties currently available for sale and the continuously increasing market prices, such statistics are difficult to gather.