According to a quarterly report published by Imobiliare.ro, owners in Cluj-Napoca are asking, on average, €400 per month for a two-room apartment, which is the same amount being requested in Bucharest.
In addition, studio apartments (garsoniere) are also fetching an amount comparable to the capital’s average at around €270 per month, quite a difference when compared to a city such as Oradea, where the average monthly prices are around €160 for a one-bedroom and €250 for a two-room.
According to the data collected by Imobiliare.ro, the average price per square meter last quarter in Cluj-Napoca was €7.7/sqm, which was an increase of 3.2% when compared with the same period of last year, in Bucharest, the amount per square meter was averaging €7.6/sqm, actually down 2.4% compared to the previous year. Other cities included were:
- Iași: €6.7/sqm (^2.1%)
- Brașov: €6.7/sqm (^6.3%)
- Constanța: €6.4/sqm (^9.3%)
- Timișoara: €6.3/sqm (^ 0.2%)
- Craiova: €5.7/sqm (^7.5%)
- Sibiu: €5.4/sqm (^3.8%)
- Oradea: €5.00/sqm (^0.5%)
Average Value based on Apartment Type
Cluj-Napoca vs Bucharest:
- Studio Apartments: €260 vs €270
- Two-Room Apartments: €400 vs 400
- Three-Room Apartments: €500 vs €570
In the centre of Cluj-Napoca, rent averages around €500 and for areas such as Gheorgheni or Zorilor, around €450 and in the blocks near to Lidl in Bună Ziua, average prices are a little higher, at around €455.
Interestingly, during October, rent prices in Cluj-Napoca fell, at least according to a report puiblished by Blitz Imobiliare. The prices decreased by around 5.32%, making the average rent price across the entire market, €356. However, despite the fact that overall, rent prices are reported to have fallen, there have been significant differences depending on the area of Cluj-Napoca.
The Iris neighbourhood, a neighbourhood which has typically been less desirable than that of more centrally located neighbourhoods, saw a price explosion of around 55%. Prices increased from around €290 to €455. A similar increase of just under 20% was in the Mărăști neighbourhood, where average prices increased from around €291 to €348 according to Blitz’ analysis.
The prices have fluctuated a lot in recent months, many suspect that increases are due to higher demand as new students began to enter the city, however, at the same time, the COVID-19 pandemic keeps a certain level of uncertainty.
Fair Rental Survey
If you haven’t already had the chance, check out the “Fair Rental Survey” which we published recently. The survey was aimed to showing the contrast between the prices that locals are willing to pay to that of foreigners, who typically have less knowledge of the local income and expectations.