Romanian Property News

The Colentina area in Bucharest brings together an interesting mixture of green area, due to the nearby park and lake, old housing – fewer and fewer of them these days, but still present, and blocks of flats built 20-30 years ago, during the communist era. Due to this mixture, although the area is dominated by blocks, there is still plenty of room left for new buildings, as proven by Euro Habitat, the development company who is behind the latest project in the area. Planorama is a large four-blocks project situated in the Doamna Ghica area (quite close to the park and the lake in the area) which will occupy an area of approximately 18000 sqm. The four blocks are 15-storeys high, providing altogether 1200 apartments (including studio, 1-, 2-, and 3-bedroom flats) to the potential buyers.

According to an article in the media, the first block was (entirely?) sold to a british investor, who apparently managed to strike a deal with the developers during the Condominium apartments fair. Three quarters of the 1200 apartments should be, still, up for sale for anybody interested. The prices for studio flats are at the expected levels – €54000 for a studio flat. The same article also mentions that the average price for the Planorama apartments was repeatedly increased over the last few months, from €800/sqm back in September 2006 to nearly €1050/sqm at the moment and expected to reach €1150/sqm later on this year.Coming back to the look and feel of the project, the developers went the full mile both on the living space and the available services. The apartments will include tiling and storage space and will have the required fittings for air conditionning. The whole complex will include a fitness club (with an indoor pool), controlled access, underground parking, private park, and even a doorman for each building.