Cluj – Market overview – Commercial spaces
- In office and commercial sector, I heard about many new projects, while the existing office buildings are fully rented with very good rental prices (17 – 18 euros / sq.m. and now owners ask for 20). I see office sector as very interesting here, either for developing a project or for purchasing a leased building with yield. But, please be careful on a detail: Not everything / everywhere will have success. Good located sites are the top priorities for companies to rent space. There is a question about the ability of the city to absorb the tens of thousands of new sq.m., but so far all the signs look positive. About commercial spaces, we can still find locations to purchase, but don’t expect low prices, the situation is just little better than Bucharest. Rental prices are high, but comparing to other less important cities, normal for Romania of 2008. For hotels, don’t ask me, proceed! There is great potential in this part of the market, especially if you will manage to combine the investment with the right service. ***
- In retail sector things are harder and it is really difficult to consider the city as attractive for investments. One must have a brilliant innovative idea and he must combine it with great courage so as to invest in a Mall or in a retail park (retail is slightly easier, with more space for investments, than the Malls market). The progress will not stop but most of the investments in this sector have already been made.
