Austrian Village continues the country theme in Crevedia
It appears that country-themed neighbourhoods are the latest trend for the Bucharest real-estate and development market. After the emerging English Village project, another large-scale development follows along the same lines: Austrian Village.
Although there is plenty to talk about the project, I’ll start with the above image, which the developers have proudly put on the website. Yes, the project looks rather popular, at least judging by the number of houses already sold (in case you can’t see them, the baloons next to the buildings all say “SOLD”). Out of the 57 villas of the project, 32 have been already sold; the snapshot dates from the 1st of November 2007, but you can see the updated picture here. The remaining houses for sale in Austrian Village are a mixture of semi-detached and detached houses, with prices between €250k and €350k, with some of the more expensive ones having access to Lake Zmeu.
The reasons behind the quick sale might be very closely related to pricing; according to a discussion on a Romanian forum, prices for smaller-sized houses of the project started from a more reasonable €150k, which helped them vanish from the market, but the more expensive villas might have to wait a while now for their owners. The advertised price of €675/sqm remains attractive for potential buyers, but the size of the houses is what makes them prohibitive. Amongst the remaining houses, the smallest one has a built area of over 300sqm, up to a whooping 450sqm for the largest villas.
Austrian Village is located slightly away from the Bucharest – 20 kilometres north of the centre, nearby the village of Crevedia (once famous for its poultry farms, nowadays heavily taking advantage of its proximity to Bucharest), so it might be worth having a couple of trips to find out roughly the time it takes to commute.
Work on the Austrian Village project is well underway and the developers promised that by October 2008 the entire village will be ready for occupancy.
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Posted: November 5th, 2007 under Property Development, Villas.
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