Real Estate Analysis of Cluj Napoca 2008-2009


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the presentation of the most comprehensive real estate analysis of Cluj-Napoca, Romania

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Real Estate Analysis of Cluj Napoca 2008-2009

  1. 1. This analysis is much more than an overview of the raw data drawn from Cluj-Napoca real-estate market. What we have is an in-depth analysis of the causes that determine the evolution of the housing market as a whole. Photo: © 2009 Catalin Hladi From sociological data to financial data, from a macroeconomic level to a microeconomic one, from supply analysis to explanations on the demand for each segment, we covered a wide range of information to better explain how the market is structured and how we expect to develop. We have not strictly limited our research to the real-estate market, considering that without explaining the city development as a whole (economy, demography, geography, social or financial factors) the true causes behind market developments may not be clearly understood. The broadest analysis on Cluj-Napoca market!
  2. 2. Why Cluj-Napoca? Because it is the most important city in Romania, after the capital, by degree of polarization. Photo: © 2009 Catalin Hladi Because it is the most important city in Transylvania and the local development of the real estate market explains to some extent the evolution for the whole country. Because it is a city with an international reputation in regards to its university, medical and financial sectors. Because it is the most developed city in the country by the surface of commercial spaces per thousand inhabitants. ... and for many other reasons you can discover by reading our analysis Did you know that the city has over 388,000 square meters of retail spaces ?!
  3. 3. How did we write this analysis? Did you know that a Cluj-Napoca inhabitant has, on average, only 15 From field work to thorough research we tried to correlate square meters of living space?! data (primary or secondary) which allowed us to present a precise situation of the local and regional real estate market. We inventoried all the real-estate projects in various stages of development in Cluj-Napoca and adjacent localities. We collected information from multiple sources so that we can choose just those relevant from the multitude of data circulating in the market. We kept always in our focus the need to obtain a comprehensive analysis for a market in which the main way to measure things was the rumors. Thus we try to provide a useful tool for a more accurate knowledge of the real estate market dynamics and its elements. For a more detailed look on the analysis here are its contents:
  4. 4. What our analysis contains: Residential demand OFFICE SEGMENT Demographic and socio-professional Evolution CLUJ-NAPOCA: General Perspective structure Standards History Socio-professional dynamics. Labor Demand Geography market Prices Population Financial Dynamics Conclusions Education Income and savings. Purchasing power RETAIL SEGMENT Economy Lending Evolution Culture The quality of housing in the urban market Demand Medical Services Demand in the renting market Prices Administration External demand. Cluj-Napoca as a Conclusions Infrastructure property investment destination HOSPITALITY SEGMENT Metropolitan Area Buyer’s profile in the Cluj-Napoca market Offer Cluj-Napoca vs the financial crisis Prices Demand RESIDENTIAL SEGMENT Building materials Classification Overview - Territorial Development The exchange rate Prices General urban planning Finished vs semi-finished Conclusions Inside vs. outside the city limits Useful built area vs. gross built area INDUSTRIAL SEGMENT Large vs. small Developers Payment methods Offer Minimum requirements for constructions. Prices Demand Terminology Prices on the renting market Prices City neighborhoods and their residential Crisis strategies Conclusions development Conclusions LAND SEGMENT Bordering towns LEGISLATION Over 170 pages of relevant information!
  5. 5. Structured around each segment of the real estate market, the analysis explains both the behavior seen on the market as well as the trends of the elements that affect the whole dynamic of the market. Maps showing the spread of real estate projects on each segment present, beyond the geographical locations, the observed behavior of the demand. We did not leave out the legislative and regulatory framework you need to know for each segment. Using many graphs and tables we tried to create an analysis that is easy to follow and which can provide information relevant to all types of readers, from those interested in the general market to those that need more detailed elements of each segment. Did you know that 57% of new projects in Cluj-Napoca do not have proper road infrastructure ?!
  6. 6. Who is THE CONSUMER? As you can see from the analysis contents, an important part in our study is presenting you the local consumer on the real estate market. What drives him to buy? What is his purchasing power? How local or regional development influences his ability to act on the market? We answered all of these questions, offering you even a segmentation of the main buyers on this market. Did you know that Cluj Napoca has to triple its livable surface to reach the European Union’s average surface ?!
  7. 7. What is the usefulness of such analysis? Financial crisis has inevitably affected the local real -estate market and this demonstrate once again the need to establish good strategies to ensure that profit yields will be pursued and achieved. The lack of similar studies or data that can be easily collected from the market convinced us that our approach is both useful and very necessary for the local market. However the analysis is not addressed only to the actors in the real-estate market and provides relevant information to anyone interested in investing in the Cluj-Napoca. Did you know that 182 companies have filed for bankruptcy in the first three months of 2009 in Cluj-Napoca? A significant numbers of these firms are construction companies.
  8. 8. Interested in our analysis? For additional information and ordering details you can reach us at : Fix Up Marketing Tel. 004-0733.94.24.64 004-0726.13.55.89 The price for the analysis is 820 Euros + VAT A well made strategy is always based on good market research!