Real estate markets face divergent trends in Cluj and Chișinău

The real estate markets in Cluj-Napoca, Romania, and Chișinău, Moldova, are experiencing significantly different dynamics. In Cluj, property prices have reached record highs, with the average price exceeding 3,500 euros per square meter. Experts suggest prices will continue to rise, a trend also observed in surrounding metropolitan areas like Feleacu and Sălicea, where prices have surpassed 2,000 euros per square meter.

This growth in Cluj is attributed to a dynamic local economic ecosystem, driven by the IT sector, university attractiveness, and infrastructure investments, despite recent disruptions caused by Artificial Intelligence.

Conversely, the Chișinău market is facing a stagnation crisis. New apartment completions have dropped sixfold compared to previous years, while prices have more than doubled since 2019. Construction investors attribute this deadlock to excessive bureaucracy, reporting that they face years of delays while waiting for permits from both local and central authorities, such as the Ministry of Culture.