Cluj-Napoca has reached apartment price levels that are increasingly difficult to justify given the quality of residential properties delivered to the market, according to Florin Mariș, CEO and founder of Hexagon. Speaking with business media, Mariș argued that the city’s housing market needs higher construction standards, greater transparency and better-informed buyers.
“Cluj-Napoca has reached high price levels without offering what should normally come with them,” Mariș said, pointing to a comparison with secondary European cities and the relationship between local purchasing power, construction standards and housing prices.
He noted that apartment prices in secondary European cities typically range between €4,000 and €5,000 per square metre, reflecting income levels below those of national capitals. Cluj-Napoca is approaching these levels, he said, but the quality of many properties does not match the prices buyers are expected to pay.
“We have noticed that the products delivered to the market offer quality far below the level of the prices being paid. Buyers often do not know what they should expect, what a properly built apartment should look like or how to assess the quality of a residential building,” Mariș said.
Housing quality and consumer protection remain key challenges
According to the Hexagon founder, one of the main problems facing Romania’s residential real estate market is the lack of comprehensive regulation and transparency regarding the actual quality and performance of homes.
Considering that people typically spend around 30% or more of their income on housing over their working lives, buyers should have access to clear information about what they are purchasing, he argued.
“Until recently, the construction system offered buyers very little in terms of guarantees and transparency. Customers did not know what guarantees they were entitled to, what the building’s energy consumption would be, how green spaces would be maintained, what environmental certifications applied or what materials had been used.”
Mariș also raised concerns about the chemical substances contained in some construction materials and the limited information available to consumers about the products used in their homes.
Through Hexagon, he said, the company is seeking to encourage greater consumer awareness and help buyers understand what questions to ask and what rights they should expect when purchasing a home.
“We are trying to build a movement towards greater awareness among customers, so that they know what to ask for and what their rights are.”
He added that a new generation of business leaders is increasingly looking beyond financial performance towards the long-term impact of real estate development on communities.
“We are a generation of entrepreneurs who have moved beyond thinking only about money. We are thinking about our communities, our children and the kind of places we want to live in. This is what we are trying to achieve in Cluj: to set a new standard for housing.”
The real cost of housing goes beyond the purchase price
Mariș argued that the purchase price per square metre is only one component of the actual cost of owning and living in a property. Financing, energy consumption, cooling, maintenance and the upkeep of green spaces all contribute to the overall cost of housing.
“The real cost of housing is not the production cost. It is the overall cost a person pays to be able to live in a home,” he said.
In Cluj-Napoca, the advertised or transaction price of an apartment can reach approximately €3,000 per square metre. However, the financial burden on buyers is significantly higher once mortgage costs are included.
“A customer taking out a mortgage may end up paying as much as 200% more over the financing period,” Mariș said, highlighting the importance of looking beyond the initial purchase price.
He also pointed to the costs of cooling apartments, maintaining buildings and managing green spaces, which are often insufficiently explained to buyers before a transaction.
“Financing costs are an important part of the equation, although we cannot solve that problem ourselves, as it falls within the banking system. What we can do to help people buying apartments is reduce utility bills and the costs associated with using and maintaining the residential property, while ensuring that it retains its real estate value over time.”
Hexagon aims to set a new housing standard in Cluj-Napoca
At the local level, Hexagon is seeking to introduce a model of residential development focused on resource efficiency, sustainability and measurable building performance.
The company has started implementing what Mariș described as good practices in Cluj-Napoca and is working towards European certification under the Positive Energy District framework.
“We have started offering this example of good practice in Cluj-Napoca. We are trying to obtain European certification for this Positive Energy District system and are currently in the process of certifying buildings based on the resource consumption associated with each square metre.”
The initiative is intended to provide greater transparency regarding the resources consumed by buildings and to encourage a more comprehensive approach to residential property performance.
For Mariș, the broader objective is to professionalise the residential real estate market and improve the relationship between developers and buyers.
“We want to move the industry towards a higher level of professionalism and help educate both the market and customers. People should understand exactly what they are entitled to receive for the money they pay for an apartment.”