Romanian Property News

Just after mentioning the increased recent interest for off-plan investments, here is a good example – Perla Residence. The development is located in the more expensive North of Bucharest, on the shore of the Pipera Lake. The project is medium sized – three villas and 82 apartments spread over six 3-storey blocks of flats.

The units are fairly spacious, with the villas up to 220sqm and the 3-bedroom flats occupying 170sqm. Due to the position, the price (North of Bucharest, by the lake) is slightly higher than average seen so far, reaching up to €1400/sqm for some of the properties. The project includes all the typical add-ons: (underground) parking, fitness club, and a commercial area.

Without wanting to dismiss it, the project seems very similar to plenty of others around, maybe more special due to its lakeshore position. So what’s special about Perla Residence? The availability! According to the developer – Crown Construction, it’s been nearly all sold already!

Yes, the director of the Crown Construction sales department announced in an interview for DailyBusiness that 90% of the properties were already sold. To put things in perspective, let’s look at the dates: the construction started this year on the 10th of January and the interview was published less than one and a half months later, on the 22nd of February. The (announced) finalising date is still far – end of 2008, but, based on the above figure, there’s not much left on the market.

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