Monte Carlo Palace - development project nearby Herastrau Park, Bucharest
Another residential complex currently under development is the Monte Carlo Palace project (the website does have an English version, so you can have a look). The complex is situated north of Bucharest, in a quiet area, with panoramic view over Herastrau Park. Unlike Vitan Towers, the winning point of the project is the peaceful surrounding area, with plenty of fresh air and green space (as you can see from the map of the area).
Apart from the peaceful park nearby, the area is likely to attract professional couples due to the increasing number of office buildings being built in the area (we will come back to this subject in another post). As expected, the mentioned office buildings attracted the large multinational companies to begin with, followed then by smaller, Romanian companies. In spite of its growth, the area is (geographically) slightly isolated from the rest of Bucharest. Due to the continuous traffic congestion, it is likely that, in the near future, the only solution for a person to make it to the office for the start of the day will be to actually live nearby the office, which is probably what the developers of Monte Carlo Palace count on.
When finished, the building will have 14 floors, with 111 apartments of different sizes, from studio flats up to 4 bedrooms flats. The prices vary depending on the flat area, the floor level and the view offered by the apartments. The area of the apartment can vary quite a lot and subsequently the price. For example, at the ground floor a 74.59sqm flat will cost €84,500 where a 154.09sqm is priced at €181,600. As expected, the price per sqm go up with the floor level; hence if the reference price for ground floor was €1,250/sqm, for the 1st floor the reference price reaches €1,453/sqm and for the 14th floor, the top level, the reference price goes up to €1,800/sqm.
You can keep an eye on the project progress through a dedicated page on their website.
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Posted: December 2nd, 2006 under Apartments, Property Development.
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