Originally Posted by anna2

I am told that the mortgages that are being offered to non-residents in Romania are not really mortgages ie they are not secured against the property and are in reality a personal loan with pretty steep terms.

So for Cluj, its not an attractive city and there is no obvious reason for tourists to go there. So growth will be only from local demand. The outskirts of the city are already very built up with communust apartment blocks.