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LOCATION:
Baneasa area, North Bucharest.
Now is under construction Project Baneasa, the biggest city planning development project in Central and Eastern Europe. In all, this project will deliver over 250 000 sq m build area of commercial space through "Baneasa Shopping City", 3000 dwellings in the Residential Area and 160 000 sq m office space in "Baneasa Business & Technology Park". The total investment in this project rises to 1.2 billion euros and is developed on a 221 hectares area (546.10 acres).
Baneasa Shopping City will offer over 65.000 sq m rentable area, over 220 luxury shops, the first "food court" in the country, build on three levels, with a large opening to the entertainment area. The entertainment area will provide a wide range of leisure possibilities for the entire family: multiplex, bowling, electronic games, casino, skating rink all year round, beauty center and many other recreation facilities.
Property in this rapidly developing area will bring high yields in a short period of time
INVESTMENT POINTS:
* The real estate market in 2005 was dominated by class A standard office buildings. The sale price of such properties was between 1500 and 2000 Euro / sq m.
* Rent for class A offices in Bucharest (18-20 euros/sq m/month) is slightly cheaper than in Warsaw and Budapest( 20-22 euros/sq m/ month),but more expensive than Prague, and Sofia (15-16 euros/sq m/month).
* More than 60% of the new Class A office spaces that are currently under construction have already been leased
* The prices for office space in northern Bucharest are expected to rise 30 % over the next year, as demand is great for the northern part of Bucharest, and there is little space.
* The number one property pole of Bucharest is the north, Baneasa, a booming area, in continuous development. For new villas, a rent of 5500-6000 euros/month will not be unusual.
* Moreover, the municipality decided to make a present to the north area of Bucharest, by financing, through a yen-credit, the build of a subway line which will connect the North Railway Station with â€Henry Coanda†airport in Otopeni. As the infrastructure is an important factor for a property rate, the prices already started rising due to this facility.
DESCRIPTION:
Commercial or office space, northern area- most luxurious in Bucharest.
