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RE/MAX GdL: The real estate market in Cluj-Napoca exceeds 1 billion euros

RE/MAX Grup de Lux, one of the first franchises RE/ MAX in Romania in Cluj-Napoca, estimates that the housing market Cluj will reach this year a value of over 1 billion euros if taken into account all categories of transactions.

2016-05-18 12:04:51 - by Bogdan Tudorache

"In the 20 years of our office, we have seen major changes undergone by local real estate market and we can say that 2016 is a promising year. We estimate that all transactions, whether sales - purchases or rentals, of segments will reach a total value of over 1 billion euros,"saya Ramona Cuc, broker and owner of RE/MAX Grup de Lux.

According to her, this year, of the total market transactions of Cluj, about 75% involve residential properties, while the remaining 25% is divided among numerous office locations, commercial or industrial.

"The average price of residential segment is currently the largest in the country - about 1,200 euro per sqm, with peaks exceeding 1,500 euro per sqm easily," said she, explaining that this segment price rose by about 12% in the last year and at the same time, many new housing units were delivered in Cluj-Napoca, but also in Floreşti.

Business of over 1.25 million euro for RE / MAX Grup de Lux

The company reported in 2015 a turnover made of earned commissions of about 1.25 million lei, of which over 74% are derived from sale deals.
The residential segment totals 72% of the company's business, the remaining 28% belonging to the commercial transactions segments, office and industrial.

The largest transaction in the history of the RE / MAX Grup de Lux has been a historical building in Cluj-Napoca, contracted to 10 million euros and traded between the two companies.
Among the major transactions of office buildings include several historical reference Cluj - Hotel Continental, Student Clinic, Conservatory House or Villa Tatar.

"There have also been important buildings of offices we traded exclusively - Power Business Center or Maestro Business Center - and other large properties ranging from commercial and land important for real estate development, with values trading more than 1 million euros," adds Ramona Cuc.

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