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What is happening in Cluj-Napoca’s real estate market? Are prices going up or down? Is Cluj-Napoca still a hotspot for foreign investors? How is Romania’s government impacting real estate policies and taxes in 2025?
These are the questions everyone is asking us every day—professionals, buyers, and sellers alike, from Bucharest to Timișoara and beyond. Perhaps you’re wondering the same thing.
We know this because we stay deeply connected with local professionals and people like you, diving into the Cluj-Napoca real estate market every single day. That’s why we created this article: to provide clear answers, insightful analysis, and a well-rounded perspective on market trends and dynamics.
Our goal is simple: to ensure you feel informed and confident about the market without needing to look elsewhere. If you think we missed the mark or could do better, we’d love to hear your thoughts. Feel free to message us with your feedback or comments, and we’ll work hard to improve this content for you.
1) Properties near universities will see stable or rising yields driven by student demand
Properties near universities in Cluj-Napoca are hot commodities thanks to the steady demand from students.
With a 69% acceptance rate at the Technical University of Cluj-Napoca, there's a constant stream of students needing places to live. This influx naturally boosts demand for nearby properties. In these areas, rental prices are climbing, with private student accommodations costing between €150 and €350 monthly, showing a strong demand that keeps pushing prices up.
Neighborhoods like Centru, Hasdeu, and Plopilor are particularly popular among students, leading to low vacancy rates. Students love the convenience and vibrant social life these areas offer, making them prime spots for property investment. The demand is so strong that property values in these districts have appreciated, with prices averaging €2,640 per square meter.
The expansion of programs at Babeș-Bolyai University is another factor drawing more students to the area, further increasing the need for housing. Cluj-Napoca's lively university scene and diverse student body ensure a steady influx of students, keeping the demand for nearby housing robust.
Investing in properties near these universities is a smart move, as the student demand is unlikely to wane. The combination of high enrollment rates, low vacancy, and rising rental prices makes these areas attractive for property buyers.
For those considering buying property in Cluj-Napoca, focusing on university neighborhoods could mean stable or even increasing yields. The student-driven demand is a reliable factor that supports property value growth and rental income.
Sources: Edurank, Erasmus Play, Business Review
2) Western European investors will focus on Cluj-Napoca for its comparatively lower property prices
Investors from Western Europe are eyeing Cluj-Napoca for its appealing property prices.
In cities like London, Paris, and Berlin, property prices have skyrocketed, making Cluj-Napoca a more affordable option. Here, the average property price is about €2,640 per square meter, which is a bargain compared to many Western European cities. Even in the bustling city center, prices peak at €3,283 per square meter, while in quieter areas, they can dip below €2,000. This significant price difference is a magnet for investors seeking value.
Another factor drawing Western Europeans is the favorable exchange rate between the Euro and the Romanian Leu. This makes investing in Romanian real estate even more attractive financially. The combination of lower property prices and a beneficial exchange rate makes Cluj-Napoca a hot spot for real estate investment.
Cluj-Napoca isn't just about numbers; it's a vibrant city with a growing tech scene and a lively cultural life. The city is home to a young, dynamic population, which adds to its charm and potential for growth. This youthful energy is a key reason why investors are keen on this city.
Moreover, Cluj-Napoca's strategic location in Europe makes it a convenient hub for business and travel. Its accessibility and infrastructure are continually improving, adding to its appeal as a place to invest and live. The city's ongoing development projects are a testament to its potential.
With all these factors combined, it's no wonder that Cluj-Napoca is catching the eye of savvy investors from Western Europe. The city offers a unique blend of affordability, growth potential, and cultural vibrancy that is hard to find elsewhere.
Sources: e-architect, Global Property Guide, ClujXYZ
We made this infographic to show you how property prices in Romania compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
3) Foreign buyers will increasingly target Cluj-Napoca for its booming tech industry
Cluj-Napoca is quickly becoming a major player in the tech startup scene.
In just one year, investments in Cluj's tech sector jumped from $2.3 million to $11.3 million, showing its growing allure for international investors. The city is buzzing with opportunities, attracting tech entrepreneurs from all over.
Big names like Genpact, IBM, and Siemens have set up shop here, establishing R&D centers that are boosting the local economy. These centers are not just about business; they are also about nurturing talent, offering training and mentorship to the local workforce.
The tech industry in Cluj is a powerhouse, with the number of IT companies doubling and startups nearly tripling in the last five years. This boom is part of a larger trend in Romania's ICT sector, which was on track to hit $7.4 billion in 2022, growing at a rapid pace.
Cluj's tech scene is not just about numbers; it's about creating a vibrant community that draws in foreign buyers. The city's tech growth is a magnet for those looking to invest in property, as the industry continues to drive economic development and innovation.
With its thriving tech ecosystem, Cluj-Napoca is poised to become a top destination for international property buyers, especially those interested in the tech industry. The city's dynamic environment and economic potential make it an attractive option for investors.
Sources: Sifted, N-iX, Alcor BPO
4) Demand for homes with dedicated office spaces will rise due to remote work trends
Cluj-Napoca is seeing a boom in remote job listings, especially in 2023 and 2024, with companies like Codespring leading the charge.
In Cluj-Napoca, 98% of workers prefer remote work at least part-time, mirroring a national trend towards flexible work arrangements.
The real estate market is buzzing with increased demand for homes with office spaces, a trend underscored by coworking spaces like Stables, which boasts a 95% occupancy rate.
There's a surge in home office furniture sales, as people seek comfort and productivity in their home workspaces, influencing local architectural designs to include dedicated office areas.
Real estate agents note that buyers are keen on homes with office spaces, a sentiment echoed in social media, showing a cultural shift towards valuing remote work setups.
With companies in Cluj-Napoca embracing remote work policies, there's a growing need for reliable home internet, evidenced by a spike in residential internet subscriptions.
Local government initiatives are enhancing remote work infrastructure, including coworking spaces and high-speed internet, aiming to boost residents' quality of life and support remote work growth.
Sources: Remote People, Codespring, Romania Insider
5) Cluj-Napoca’s property prices will keep rising due to strong demand
Cluj-Napoca's property prices are climbing, and they're not slowing down anytime soon.
One big reason is the steady stream of students and young professionals flocking to the city, especially those attending Babeș-Bolyai University. This influx keeps the rental market buzzing, as investors see a golden opportunity to cash in on the demand for housing from students and expats.
Another factor is the limited land available for new developments. The number of newly completed homes has nearly halved recently, which means existing properties are becoming more valuable. With fewer new homes, the pressure on transaction prices remains high, pushing property values up.
Cluj-Napoca's booming tech industry is also a magnet for professionals and their families. The city offers a friendly business environment and lower operational costs, making it a hotspot for tech companies. This economic growth fuels the demand for housing, as more people are drawn to live and work in this vibrant city.
On top of that, the city's investment in infrastructure and public services adds to its charm. As Cluj-Napoca becomes more appealing, property prices naturally rise with the growing interest from newcomers.
With all these factors in play, it's clear that Cluj-Napoca's real estate market is on an upward trajectory, driven by high demand and limited supply.
Sources: Macrotrends, e-architect, Romania Insider
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6) Cluj-Napoca will attract Eastern European buyers for its educational opportunities
Cluj-Napoca is a hotspot for Eastern European buyers interested in educational opportunities.
One major reason is the high rankings of its universities, like the "Iuliu Hațieganu" University of Medicine and Pharmacy, which consistently scores well in international assessments. This makes it a magnet for students seeking top-notch education. Interestingly, about 33% of the students at this university are international, showing its global appeal.
Cluj-Napoca has also been named the best student city in Romania for three consecutive years by the QS ranking. This title underscores its popularity among Eastern European students. The city's universities have partnerships with international institutions, giving students access to a global network of resources.
The demand for student accommodation is on the rise, indicating more students are choosing Cluj-Napoca for their studies. This surge is fueled by the city's reputation as a top academic center. Eastern European students often highlight the quality of education and faculty expertise in their testimonials.
Sources: UMF Cluj, RTSA, Romania Insider
7) Property values in Zorilor will increase with the opening of new educational institutions
In 2023 and 2024, the Zorilor area in Cluj-Napoca began to see a rise in property values, largely due to the opening of new educational institutions. This trend is expected to continue as more schools and universities establish themselves in the area.
The increased enrollment statistics in the Cluj Metropolitan Area, particularly in vocational, primary, lower secondary, and university education, have shown a growing demand for educational facilities. This demand is especially strong in areas like Zorilor, which are close to universities and tech hubs. As more students flock to these institutions, the need for nearby housing increases, driving up property values.
Additionally, the rising demand for student accommodation in Zorilor, especially around Observatorului street, highlights the area's attractiveness to students and young professionals. For example, a new apartment just a 7-minute walk from the University of Medicine and Pharmacy is available for rent at €465 per month, excluding charges. This demand for housing is a clear indicator of the area's potential for property value growth.
Historical data from Cluj-Napoca's real estate market shows that areas with new educational facilities have experienced significant property value increases. The presence of top universities and a thriving tech sector has driven this growth, with the current average price being €2,640 per square meter. This suggests that Zorilor, with its new educational institutions, will likely follow a similar trend.
Sources: e-architect, World Bank, UniAssist
8) Interest in the Iris area will grow as urban renewal projects progress
The Iris area in Cluj-Napoca is set to become a hotspot for interest due to several key developments. One of the most significant is the EUR 0.5 billion urban regeneration project announced by the Iulius Group. This ambitious project aims to transform the former Carbochim industrial platform into a lively space featuring Romania's largest retail area, a performing arts center, an urban garden, and enhanced public transportation infrastructure.
In the past, the Local Council of Cluj-Napoca approved the urban zoning plan for this transformation, showing strong government support for urban renewal in the area. This backing is crucial as it aligns with the municipality's vision for development and ensures that the necessary regulatory frameworks are in place. Additionally, the improved public transportation links, including the introduction of electric buses by 2026, will make the Iris area more accessible, further boosting its appeal to both residents and visitors.
Moreover, the development of new commercial and recreational facilities, such as the urban garden and performing arts center, will significantly enhance the quality of life in the Iris area. These amenities are likely to attract a younger demographic seeking modern amenities and a vibrant lifestyle, contributing to a demographic shift that favors increased interest in the area.
Sources: Romania Insider, Raptor Project, Romania Insider
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Romania. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
9) Gheorgheni will grow in desirability with new recreational facilities
The Gheorgheni neighborhood has become more desirable due to significant investments in recreational infrastructure. In 2023, the City Hall and the National Investment Company funded the Sports Complex Gheorgheni, which includes various sports facilities like mini football pitches, badminton courts, tennis courts, and more. This development aimed to provide a relaxation area for locals and support physical exercise classes for schools.
In 2024, the introduction of ParQuarium, a waterpark in Gheorgheni, further increased the neighborhood's appeal. With features like slides, relaxation pools, and dining options, it attracted significant foot traffic and boosted business activity in the area. The local government's commitment to enhancing recreational infrastructure, as seen in their plans for ParQuarium, indicates a continued focus on making Gheorgheni a vibrant recreational hub.
Additionally, the rising property values in Cluj-Napoca, with a notable increase in home prices, reflect the high demand for housing near recreational areas. This trend is expected to continue as more facilities are developed in Gheorgheni, attracting younger, active populations who value proximity to modern recreational amenities.
Sources: Cluj XYZ, Blooloop, Romania Insider
10) Student-heavy areas will see slight rent increases due to steady demand
Cluj-Napoca is buzzing with students, especially from Babeș-Bolyai University, Romania's largest.
With its affordable living costs compared to other European cities, Cluj-Napoca is a magnet for international students, boosting the demand for rentals even more.
Rental prices have been on the rise, with a small studio costing around €350 in 2024, and larger apartments going for over €700. This trend is set to continue as demand stays strong.
The limited student housing options, like university dorms and private homes, mean students often turn to private rentals, pushing prices up due to scarcity.
Students are willing to pay more for places close to their universities, driving up demand in these areas where proximity is key.
Real estate experts predict the private student housing market will keep growing, with rents ranging from €150 to over €700. Landlords report high demand and low vacancy rates, showing a tight market.
With more students, limited housing, and a preference for nearby accommodations, rents in student-heavy areas will likely increase slightly due to consistent demand.
Sources: ClujXYZ, RTSA, Business Review
11) Foreign buyers will target central and luxury properties for perceived investment security
Foreign interest in Cluj-Napoca's central and luxury properties is growing due to their perceived investment security.
In 2024, the average property price in central Cluj-Napoca hit €2,640 per square meter, making it Romania's priciest real estate market. This surge in prices underscores the area's desirability and potential for value growth. The city's thriving tech sector and reputation as an innovation hub are key drivers of demand for luxury real estate in urban centers.
High-end apartments in the city center are in high demand, thanks to their proximity to major business districts, universities, and cultural attractions. This makes them appealing to both local and international investors seeking stable and secure investments. The presence of multinational companies and a large student population has also led to higher rental yields in central locations.
This strong demand for rental properties further boosts the allure of investing in central and luxury properties. International investors have already recognized Cluj-Napoca's potential, with seasoned investors like Ognian Bozarov adding properties in the area to their portfolios. The city's vibrant atmosphere and economic opportunities make it a hotspot for those looking to invest in real estate.
Foreign interest is particularly focused on central and luxury properties due to the perceived security of these investments. The combination of a thriving tech sector, cultural attractions, and a strong rental market makes Cluj-Napoca an attractive destination for investors. As the city continues to grow, the demand for high-end real estate is expected to rise.
Investors are drawn to Cluj-Napoca not only for its economic potential but also for its unique blend of modernity and tradition. The city's central properties offer a mix of historical charm and contemporary amenities, making them highly desirable. With a strong rental market and a growing economy, Cluj-Napoca is poised to remain a top choice for real estate investment.
Sources: e-architect, BREC Real Estate Trends 2024
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12) Florești will see rising demand as better infrastructure eases commuting
In 2023 and 2024, significant investments were made to improve the infrastructure between Florești and Cluj-Napoca. The Cluj Metropolitan Beltway project, which started in May 2024, expanded the road to six lanes, including a dedicated lane for public transport. This development has made commuting much easier and faster.
Mayor Emil Boc's announcement of the Beltway project highlighted its importance in connecting key locations like the Cluj Regional Emergency Hospital and the Monobloc Pediatric Hospital. This improved access has been crucial for residents and has made the area more attractive to potential homebuyers.
With the dedicated public transport lane, the frequency and capacity of services have increased, making daily commutes more efficient. This has led to a growing interest among homebuyers, as better connectivity often enhances the quality of life.
Local media have frequently reported on the improved connectivity and quality of life in Florești, further driving interest in the area. The government's strong support, demonstrated by the approval of significant funds for expropriations, indicates a commitment to future infrastructure developments.
Sources: Cluj XYZ, World Bank, Railway Pro
13) Eco-friendly developments will grow in popularity as sustainability takes priority
In recent years, eco-friendly developments have gained significant traction, especially as sustainability has become a priority. By 2023, Cluj-Napoca had already seen a notable increase in green building certifications, with over 68% of office buildings achieving this status, surpassing the national average in Bucharest. This trend continued into 2024, driven by both consumer demand and government incentives.
Consumers have shown a strong preference for sustainable living options, with nearly 65% actively seeking products with sustainability certifications. This shift in consumer behavior has encouraged brands and developers to innovate and adopt sustainable practices. Additionally, local authorities in Cluj-Napoca have supported this movement by offering tax incentives to developers who build green projects, further promoting eco-friendly construction.
Moreover, the media has played a crucial role in highlighting the benefits of green buildings and sustainable practices in real estate. This increased media focus has helped raise awareness and drive demand for eco-friendly developments. The Cluj Green Infrastructure Development Initiative, for example, aims to extend and rehabilitate green areas, demonstrating a commitment to sustainable urban development.
As we moved into 2025, the global investment in renewable energy reached a record $500 billion, supporting the transition to clean energy sources. This investment trend aligns with the growing number of eco-friendly residential projects and the inclusion of sustainability criteria in property valuation, ensuring that landlords who fail to align with these criteria risk being left behind in the market.
Sources: Portico Urban Initiative, Govnet, Eco Boulevard, EDGE Buildings
14) Young professionals moving to Cluj-Napoca will boost demand for modern apartments
Young professionals are increasingly drawn to Cluj-Napoca due to its booming tech sector. In the past few years, the city has seen significant growth in its software development industry, with over 10,000 employees and nearly 200 vendors setting up shop. This vibrant tech scene offers a variety of services, including web and mobile app development, which are highly attractive to young professionals seeking dynamic career opportunities.
Moreover, the presence of multinational companies like Copeland, which opened a new office in Cluj-Napoca, highlights the city's growing business appeal. These companies bring not only job opportunities but also competitive salaries, making Cluj-Napoca an attractive destination for young professionals looking for financial growth and stability.
Cluj-Napoca's strong academic sector, with over 65,000 students and a high retention rate of graduates, further contributes to the influx of young professionals. The city's vibrant cultural scene and high quality of life, as perceived by many Romanians, make it an appealing place to live and work. This combination of factors is driving the demand for modern apartments, as young professionals seek housing that matches their lifestyle and aspirations.
Sources: N-iX, Copeland, MESOC Project, NetZeroCities
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Romania versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
15) Peripheral areas may see slight price drops as new developments saturate the market
In recent years, we've seen a significant increase in new housing developments in the peripheral areas of Cluj-Napoca, such as Florești, Baciu, and Apahida. These areas have been attractive for development due to cheaper land prices. However, many of these developments have been unplanned and fragmented, lacking adequate infrastructure and social amenities.
Additionally, there have been reports of unsold inventory in these newly developed neighborhoods. The number of newly completed homes in Cluj-Napoca has almost halved since 2019, which could lead to unsold inventory and potential price declines in these areas. This situation is compounded by a slowdown in demand for properties in specific peripheral zones, as the overall real estate market in Cluj-Napoca has seen a significant increase in property prices, but this growth is not evenly distributed.
Moreover, demographic studies show that the rapid expansion of housing in peripheral areas has not necessarily led to a corresponding increase in population. This could indicate stagnation or decline in certain regions, further contributing to the potential for price declines. Surveys of buyer preferences also indicate a shift towards central locations, driven by the city's vibrant mix of modern amenities and historical charm, which could lead to decreased demand for properties in peripheral areas.
Sources: World Bank Document, Romania Insider, e-architect
16) Central Cluj-Napoca will see higher rental yields with growing demand for short-term rentals
Rental yields in central Cluj-Napoca are on the rise as more people look for short-term rental options.
Platforms like Airbnb are fueling this trend, with Cluj-Napoca's short-term rental market showing a median occupancy rate of 46% and an average daily rate of $72. This clearly points to a strong demand for short-term stays.
Cluj-Napoca's real estate market is also heating up, with property prices averaging €2,640 per square meter. This makes it the priciest market in Romania, suggesting that as property values climb, rental yields will follow, especially for short-term rentals that can charge more.
The city is not just about numbers; it's a vibrant cultural and tech hub, drawing in both local and international investors. This buzz around Cluj-Napoca is boosting its short-term rental market, as more visitors come for both leisure and business.
With its growing reputation, Cluj-Napoca is becoming a magnet for tourists and professionals alike, further driving up demand for short-term rentals. This is great news for property owners looking to capitalize on the city's popularity.
As the city continues to thrive, the short-term rental market is expected to keep growing, offering lucrative opportunities for those investing in central Cluj-Napoca properties.
Sources: Bnbvestor, E-Architect, AirDNA
17) Yields in newly developed areas will fluctuate as the market adjusts
In the past few years, Cluj-Napoca has become Romania’s most expensive real estate market, with property prices reaching an average of €2,640 per square meter in 2024. This significant increase in prices over a short period indicates a rapidly changing market.
Back in 2023, there was noticeable volatility in property prices, with sales prices dropping by various percentages in the early months of the year. This initial volatility is a common characteristic of newly developed areas as the market begins to adjust to new conditions.
Additionally, the average gross rental yield in Cluj-Napoca was 4.44% in 2024, which shows some initial volatility when compared to the national average of 6.46%. This suggests that rental yields in newly developed areas can fluctuate as the market finds its balance.
Sources: Romania Insider, Global Property Guide, e-architect
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.