The Basarabia Development is well-located close to centre in Bucharest, sector 3. Completion of the 800 apartments is in 2009. Good transport links and local shops. The development has gym and crèche facilities as well as shops on the ground floor. The apartments are of a very good size and Phase 1 has been designed ideally for the buy to let market.

Development Features


Desirable location

Close to the city centre with excellent public transport links

Excellent infrastructure

Soaring local demand

20% deposit required with no stage payments (80% due on completion)

Key Facts


80% LTV financing available

Pay only 20% for a deposit and nothing more until completion

€1,400 per sqm (approx £900)

Lift in each block

High quality materials and finishes

Parking available with each apartment

Fully finished apartment

Why Invest in Bucharest?


Being the capital city of Romania, EU entry will fuel growth in the economy and push up net wealth. Bucharest will be the city that will benefit mostly from this in Romania.

Huge GDP growth, forecast to average 6.3% over the next three years

Growing loan liquidity. In 2006 residential debt to GDP only accounted for only 1.8% (Compared to 80% in the UK). With increasingly sophisticated mortgage products entering the mortgage, the ability to get easy financing will create further capital growth on the housing market.

Deteriorating housing stock. Most suburban flats were built during the Ceausescu reign and consist of 1960's communist era style blocks. Locals are looking to move into more modern, Westernised standards of living and these old blocks cost more to heat and repair than a modern double glazed, good security apartment. With increasing living standards and an inevitable increase in newly affluent local middle class wealth from economic growth, a move to new apartments is in high demand.

Continual Strong real wage growth and falling unemployment (below 2.6% in Bucharest) will continue to further push up housing prices

"EU-phoria. People feel good - and secure in buying a new home - in the new geopolitical reality. They are aggressive buyers because they know the same flat that costs 1,400 EUR per sqm here costs three to five times that in Western European countries.

Planned introduction of the Euro. This will bring multiple benefits, including currency stability, lower interest rates, and increased FDI.

FDI growth. The examples of Ireland, Spain and Portugal all show that FDI increases more than 500% within six years after joining the EU.

Strong and growing tourism market. Bucharest is Romania's number one tourist destination, and is set to become one of Central Europe's hottest travel destinations.

Busy international airport. Bucharest's airport is the busiest airport in Romania.
Location

Basarabia Boulevard is located in downtown Bucharest in sector 3 and is one of the more populated zones of the City that has seen very little new residential development. Our attraction to this property is based on the extremely strong local demand to move out of