EnglishReal estate agents in Cluj Napoca have reported an overall increase in land prices over the past two years, especially in the southern part of the city. According to the realtor Edil Cluj-Napoca, the prices of urban land are likely to further increase for a short period and then stabilize. At the moment, all available land in the outskirts of Cluj Napoca is targeted for real estate development, especially residential development. Therefore, the price has gone up 25% since the beginning of the year. Prices per square meter currently stand at some 1,000 EUR in Mihai Viteazu and Unirii areas, 300-400 EUR in Andrei Muresanu, Gheorgheni and Grigorescu and 200-300 EUR in Zorilor. As demand is rising, even areas farther from Cluj are being targeted and their price, too, is consequently rising. Romania"s recent accession to the EU is another factor stimulating real estate development and price increments as the foreign capital inflow has been noted to increase.
EU Accession Boosts Cluj Land Prices 25%
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Ziarul BURSA #English Section / 21 februarie 2007
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