Factors affecting the price of flats in Bucharest
Floor level. When buying/selling a flat, the floor level is very important. Typically, flats at lower level floors are preferred and therefore they are worth more. In a block of flats, the lowest priced are the flats on the top level, followed by the ones on the ground floor; next in line are flats from higher levels, and, in the end, flats at the lower levels are likely to be the most expensive.
Earthquakes. Romania is often subject to earthquakes; although most of them are of low intensity, some of them may be damaging. Bucharest includes a list of buildings/blocks of flats (called “red dot buildings”) which cannot be insured against earthquake either due to their age or/and damaged infrastructure. The price of flats in such buildings is lower than the equivalent in non-affected buildings.
Vicinity. The presence of a park, mall, and bus/tube station in vicinity of the location will also raise the price. Several areas around the blocks of flats were used as covered improvised carparks; currently, the trend is reversing, and more and more such spaces are converted back to green areas and parks.
Location. If you are planning to live/work in Bucharest, think well where you buy a flat, city centre or city outskirts. Unlike the UK, the road infrastructure is not in place yet; the traffic, always coloured by the Romanian, Latin character, can be horrendous at the rush hours. While properties currently developed at the outskirts may provide higher comfort levels and more attractive surroundings, reaching an office located in the centre of Bucharest from such a location may involve a 1-1.5 hours journey (although the same journey may take only 10-15 minutes during quiet, night hours).
Last posts in Apartments
Posted: September 2nd, 2006 under Apartments.
Comments: none
Write a comment