The 2019 real estate market in Cluj-Napoca witnessed an intensive activity, with real estate transactions almost EUR 680 million, up 6% over the previous year.
The average price per square meter for apartments in 2019 is 1362 EUR/ sqm, increasing by almost 6% compared to 2018 upholding Cluj Napoca as the city with the most effervescent real estate market in Romania since the real estate crisis that commenced 11 years ago.
The growing interest for this top region of the country comes, in a significant proportion, from the neighboring counties, such as Maramureș, Bistrița Năsăud, Alba, Sălaj, Mureș and Satu Mare, so that over 28% of the 2019 buyers come from other counties, and just under 2% come from across the borders
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Key Figures 2019 Cluj-Napoca Real Estate Transactions Guide
- The total value of real estate transactions in 2018 was close to EUR 679 million, more than double compared to EUR 284 million traded in 2014.
- In 2019 the total value of transactions increased by 6% compared to the previous year and by 14 compared to 2017.
- The largest share of the total EUR 679 million was represented by the transactions with apartments, accounting for 61% of the total.
- The average price per square meter of the apartments traded in 2019 was 1 362 EUR/ sqm – 6& higher than the average square meter price of 1 287 EUR/ sqm recorded in 2018.
- 70% of the buyers come from Cluj county, while almost 28 come from other counties of the country, and less than 2 come from abroad
Summary of real estate transactions in Cluj Napoca in 2019
Real estate transactions Cluj Napoca 2019: 8845 transactions EUR 679,6 million of which:
- Apartments: 5565 transactions, EUR 414 million
- Houses: 529 transactions EUR 83,2 million
- Land: 499 transactions EUR 22,7 million
- Other properties: 2252 transactions, EUR 159,5 million
Transactions with apartments (2019)
- Transaction number: 5,565
- Transaction value: EUR 414mill.
- Net area traded: 303,966 sqm
- Most transactions: area between 35-55 sqm
- Apartments built after 2000: 66% of the value of the transactions
Transactions with houses (2019)
- Number of traded houses: 529 case
- Transaction value: EUR 83.2million
- Approx. 46% of transactions value: Borhanci, Iris, Dâmbul Rotund, Centru and Andrei Mureșanu
- The most numerous house transactions: Borhanci, Iris, Dâmbul Rotund, Centru and Mănăștur
Transactions with plots of land (2019)
- Number of plots of land traded: 499
- Value of transactions: EUR 22.7 mill.
- Over 50% of transactions value in: Other adjacent areas, Sopor, Iris and Dâmbul Rotund
Local Interest Information (2019)
- Al Vaida Voevod Street recorded the most valuable transactions (~EUR 45 million) and Soporului Street is the street with the most numerous transactions (550 transactions).
- The district with the fewest transactions is Făget, and the one with the least valuable transactions is the Plopilor district.
- Most transactions (967) were recorded in September and the highest monthly value of transactions was recorded in October, approx EUR 78,8 million.
- The most frequently traded plots of land were larger than 17000 sqm.
- Apartments with area between 35-55 sqm were most frequently traded.
- The most expensive house traded is located in Zorilor district, in the area of Eugen Ionesco Street, and the transaction was completed at EUR 1,15 million.
- The most expensive plot of land was traded in Sopor district, for EUR 1 million.
- Mănăştur remained the district with the most transactions (997 transactions), and the Center is the district with the most valuable transactions in 2019 (~EUR 88,3 million).
- The most valuable transaction was concluded by a legal entity and includes a commercial building worth over EUR 12,5 million located on Al Vaida Voevod Street.
- Acquisitions of legal entities represent 21,8% of transactions value.
- Top 10 most valuable transactions of legal entities account for more than 28% of the EUR 148,1 million traded by legal entities in 2019.
- Approximately 70% of the transactions concluded had a local buyer (Cluj County).
About the Guide
The Real Estate Transactions Guide from Cluj-Napoca, a unique project in Romania, is carried out annually by Veridio with the support of the Tax Department of the Cluj-Napoca City Hall. The study is based on official information collected from the sale and purchase agreements registered at the City Hall.
The guide provides data on the volume and total value of real estate transactions, their distribution by type of property (apartments, houses, land, other type of real estate properties), average prices per square meter by districts and globally, at city level, as well as many other relevant figures.
The guide in Romanian is accessible to everyone interested on the official website www.primariaclujnapoca.ro. Additionally, the guide in English is published on the official website www.clujbusiness.ro.