The study followed the evolution of main real estate markets in the country. According to it, at the national level, there will be over 30,000 homes completed in residential projects in major cities by the end of this year. In this respect, 2017 was the best year ever for the local residential market!
After Bucharest, where approximately 13,000 homes will be completed, the largest residential markets in Romania are Cluj-Napoca, Constanța, and Sibiu, with over 2000 units each. Specifically, in Cluj will be completed over 3,500 dwellings (including Floreşti) – an increase of approx. 50% compared to 2015. However, Cluj-Napoca and Brasov have recorded the highest degrees of absorbing new offers with a rate over 90%! The percentage of bank financing purchases was very low compared to other regions.
“With the growing popularity of Cluj being a city for young professionals to settle, the need for housing increased. This is the best ever period for the modern residential market in Cluj-Napoca, with about 3,500 homes scheduled for completion this year in the city and surroundings, a figure 50% higher than last year,” said Anamaria Burca, managing partner of Coldwell Banker.
The most dynamic areas for new construction in Cluj remain Gheorghieni and Buna Ziua. Iris also enjoys attention from developers, many homes will be delivered here in 2017 and 2018.
Regarding housing prices in Cluj-Napoca, they were tempered following the adoption of the Resolution Agency law and exhaustion ceilings for Prima Casă. Rising prices remains the largest nationally over 10% in terms of new housing segments and approx. 17% for housing segments completed before 1990.