Real estate company profile – Regatta
The real estate market in Romania appears to move to the next level. While so far the typical developer controlled up to two or three medium-sized projects, all marketed by the same company, a new type of real estate company seems to emerge at the horizon. Such real estate agents provide a portfolio of properties, ranging from central luxury apartments or affordable flats to houses build at the outskirts of the city, even 10-20 miles away from the city.
One such company is Regatta. The real estate agent provides a wide range of accommodation, most of the alternatives being focused on luxury accommodation. Their offer ranges from houses nearby green areas to luxury apartments in buildings in the heart of Bucharest. You can find out more details on their website – www.regatta.ro. This article focuses on some of their residential projects.
A good example to begin with is a recently finished building, positioned next to The French Village Bucharest complex, including several 1-, 2-, and 3-bedroom apartments. The project is also close to the Herastrau Park, fact that will raise the value of the encompassing apartments due to the nearby park. The building includes underground parking and even an earthquake shelter, should it come to that. The project was finished in May 2006 and the generic offering price for the apartments is in the region of €1500/sqm.
A second complex, comparable in size with the first project but closer to the city centre, is the City Center Residence (you can see its location on this map). The price per sqm is again comparable with the building nearby The French Village, €1300/sqm - €1500/sqm. But considering the size of the apartments does put the figures in perspective – some of the available accommodation includes 4-bedroom flats, measuring up to 220sqm. With the figure indicated above, such flats, even without any premiums, can reach beyond €300,000, making them prohibitive for the average buyer.
Insieme residenziale is yet another example of a medium-sized project currently administered by Regatta and owned by the Insieme group. The project consists of a three-building complex, placed in the Pipera area, north of Bucharest. Pipera, once known only as an industrial estate surrounded by agriculture fields, is now going through substantial changes, with new development projects starting regularly. Back to the Insieme residenziale, the development project includes three blocks – two identical, bigger ones, each with 28 flats, and a central, smaller block with only 7 flats. As with the other developments, it includes underground parking and a fitness centre. And again as the other projects, it is targeting the luxury market due to the pricing – between €115,000 for a one-bedroom flat up to €250,000 for a three-bedroom apartment.
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Posted: December 6th, 2006 under Property Development, Estate agents.
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Time: February 2, 2007, 2:41 pm
[…] The housing market – the Romanian real estate market is still in its infancy. This makes some of the housing prices rather volatile, particularly in the sought-after areas – large cities, seaside, sky resorts, but overall the prices keep increasing. Compared to the number of properties available, there is a high number of agencies, situation that fragments the market. However, several large estate agents, such as Regatta and Eurisko, strengthened their position over the past year and more and more web sites advertising properties, typically for individuals, started to appear. Coming back to the volatility of the market, on the negative side you might be quoted very different prices for the same house or flat, but on the positive side, with a bit of shopping around, you are guaranteed to find very good value for your money. […]
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