Nokia attracts real estate speculators to Jucu

Nokia’s investment has brought the prices of properties in the Cluj county commune Jucu close to those in Cluj, with apartments being on the market at around 900 euros / square metre. “Nokia” fever has swept both investors and buyers. Among those to voice an interest in land and properties are several foreign citizens, some of who are speculators, while others have already moved into new homes. Currently, a 90-apartment real estate project is being developed in the commune, the construction of which started in May last year.
“Around 40% of the 90 apartments available, have been sold to British investors, who purchased them with a view to selling in a few years’ time. The remaining apartments were sold to Romanian citizens. 30% of the buyers are direct users, people who have already moved in, many of them Jucu residents,” said Marius Cipcigan, a representative of Empire Imobiliare real estate agency, which handles the sales at one of the Jucu-based complexes. A Cluj-based entrepreneur, who wishes to remain anonymous, is involved in the investment, which exceeds 1.5 million euros.