Europe Residence takes shape in the central Brasov
As prices keep increasing, Bucharest becomes too expensive for buy-to-let small investors. This is why people are starting to look a bit further for investment properties. The nearest big city you can get is Brasov, which is about 80 miles away from the capital and, more important, as close as it gets to skiing resorts and fresh mountain air. It is here where the Kronvest developer is setting one of their latest projects – Europe Residence.
Europe Residence is located right in the heart of Brasov, by the historical town (makes you wonder how they managed to get the approval of the local council…but one way or another they have done it now). The project includes 115 flats in a G+7 block of flats, plus the “usual” by now amenities. Each of the residents will get access to the fitness and the games club, as well as the pool and jacuzzi, together with 33 underground garages (apparently it’s actual garages rather than just parking spaces…)
What seemed really attractive, particularly after seeing again and again the price of Bucharest flats, was the cost. The cheapest units are available for sale for as low as 31620€ for a 46sqm studio flat and, for larger 60sqm studios, go only up to about 40000€. As it does sound too good to be true, you need to add the VAT, which still keeps the price well under the 50000€ level. Ass always, there is a bit for everybody – the penthouse duplex flats stretch over 131sqm and will set you back 131000€.
You can get more details from the project website http://www.europeresidence.ro (only available in Romanian unfortunately). According to the updates, the structural work reached the penthouse and the builders are already putting on the finishing touches on the lower floors.
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Posted: October 22nd, 2007 under Apartments, Property Development.
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