Alternatives to buying a home in Cluj-Napoca. “Before they were holding horses on the ground floor in the block. Now I ask for 3,000 €/sqm”

At the already high prices of real estate in the big cities of Romania, such as Cluj-Napoca, Brașov, Bucharest, the impact of VAT increase is added. In the context in which the news of the labor market are not extraordinary, many young people think of alternatives.

The real estate market in Cluj, the most expensive in Romania. Photo: pexels.com

The VAT increase to Imobiliare determined a period of effervescence on the Romanian market. A large number of Romanians entered the race to find a home until August 1, the date of entry into force of the new regulation, and in their meeting came the developers with “special offers”.

This behavior of entrepreneurs has generated a slight price drop in some markets, according to a study of Imobiliare.ro in three of the largest cities in the country.

In Cluj-Napoca, the average price requested for new apartments reached an average of 3,233 euros/sqm useful in June at 3,108 euros/sqm useful in July. However, the city remains the most expensive in the country.

Now that the moment has passed and the VAT at real estate has increased to 21%, many young people think about alternatives. Especially since the construction materials have been increased.

Is there an alternative to the real estate market in a big city? It is the question of a young man who lives in Cluj-Napoca around which an interesting debate on Reddit appeared:

“I have been here for 3 years, during which time they have exploded the prices for real estate. My financial situation: I have a great advance, the rest of the credit. The situation of the apartments for sale: expensive and horrible, in many throw everything, you laugh, and you get 30,000 euros.”

Although it has a great advance, the young man believes that both the offer and the prices are a “mockery”.

“After all, what big labor market does Cluj have to justify taking a bank loan? I look at LinkedIn and do not give me confidence what I see. I address more to those who stayed in Cluj and have not bought anything and they will not. Did you buy elsewhere, or the plan is to go?writes a young man is seen in front of the offers from the most expensive real estate market in the country.

Old blocks, new claims

In many comments at the mentioned post we talk about the huge differences between the quality of the dwellings and the requested prices:

“The prices are insensitive badly. Now some apartments in West City Tower have come to the market at approx. 3,000 €/sqm.

“He wrote a monk that before they were holding horses on the ground floor. Now I ask for 3000 €/sqm”, commented on a user of the platform.

Another, born and raised in Cluj-Napoca, intervenes showing that it is only a legend that horses were held on the ground floor of a bad-failed block in Cluj in the first years after the Revolution, where luxury prices are now required.

Between rent and credit

For many, rent is a real alternative:

“Well, the only alternative is the rent, if you want to stay in Cluj-Napoca and you do not have the money needed for an apartment and you do not want credit. Which is not the end of the world. At the moment it seems a good solution.”

“I on credit for 20-30 years I do not take me. Maybe so for 5 years I would take. It is good and rent because I have freedom to stay as much as I want, where the prices for the rents have become increasing.”

A buyer tells the “key to success” to find a home at a reasonable price:

“I had notifications on 3 sites and for 2 years I watched, I think over 100 properties, both houses and apartments. I arrived at the offer stage 4 times, 3 times I had to give up. Another time the seller said he did not want to sell it before we went to the notary. Please expect disappointment.”

Another describes the poor quality of new construction:

“I saw blocks with 6 floors, max 5 years old, in which the ground floor was cracked in a hall of the crack. The problem in Cluj are not only the prices, but the prices + quality.”

Many believe that the market is fed by money coming from outside the city:

“Patronache come with clean or black banent on Sălaj, Alba, Bistrița, Maramureș, Mureș, etc. and buys for plots or as an investment. As long as it is bought, the developer has no reason to descend the price.”

“I have been looking for since 2018 and I have been waiting for many” experts “said that those who will wait 1-2 years will take at least 20% cheaper, and in the meantime prices have almost doubled.”

Some found solutions in surrounding localities

Some found solutions in surrounding localities: Baciu, Turda, Oradea

“I found an apartment in Baciu, about 2000 €/sqm, the last floor with terrace and underground parking. I had a very bad opinion about Baciu until I came to the scene. Public transport at 5 minutes, airy neighborhood, green spaces, playgrounds.”

Others prefer to move everything from Cluj:

“The plan is to rent and not throw my money on an apartment in Cluj. From the money of apartment + credit interest, I am quiet with 300-400 euros until old age.

“Personally, I start to wonder why people do not look at Turda. Since it has access to several highways and that the city has been set up, it seems the next market to flourish.”

“Welcome. I honestly trust Oradea. Incredible development on the infrastructure side, near customs, etc. And there the prices increased quite loud. “

“Among the knowledge circles I saw that many have reoriented to Oradea or Sibiu. But this a few years ago, that there began to increase the prices quite ugly. ”

“Duplex in Chinteni (neighboring locality Cluj-Nr) at 2-room apartment price in Cluj, but you have a clean yard and cleaner air. “