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City Residence Bucharest Exclusive pre-release offer fo1 bed Luxury apt -BELVEDERE-BANEASA - popular commercia
1 bed huge space -BELVEDERE-BANEASA -Located in a comme
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Belvedere Baneasa it`s a development of 4 residential buildings complex divided in 678 luxury apartments, in North of Bucharest
Built-up on an area of 70.000sqm, Belvedere Residence has all the facilities of a new residential area which is well thought for a social and cultural lifestyle: medical and beauty centre, commercial centre, parking places for at least 800 automobiles , recreation centre, club house , kinder garden, after-school, restaurants, walk on the lake shore, covered/uncovered pool, sport court .
In Belvedere residence you will benefit from: modern compartments, high-standard of interiors, and high-standard of utilities, new technical equipment, large surfaces (between 70sqm and 200sqm), large terraces, styled lobbies, and direct access to the underground parking places with elevators.
Located in a commercial and business area of a new urban centre, Belvedere Baneasa Residence has harmoniously joined to the North of Bucharest
Why invest in Bucharest? (Capital city)
• High unsatisfied demand for residential properties ;( estimates of 300,000 units in demand and only 1,800 units delivered in 2007).
• Local migration to Bucharest for the better-paid jobs (adds more pressure to the residential/rental demand).
• Major Multinationals (Microsoft, IKEA,etc) establish headquarters in Bucharest (creates a demand for business rental).
• Prices on new build are still cheaper than the old communist flats; SEE MARKET ANALYSIS BELOW.
• Major investments in the infrastructure (Romania will receive €30billion EU funding between 2007-2012).
• Low cost carriers’ flights are available from major UK airports (Easyjet, Ryanair).
Why invest in "Belvedere Baneasa"?
• Excellent payment plan (as little as 10% initial capital requirements).
• Exit plan (re-sell opportunities through our Romanian company before or after completion).
• Brilliantly located in the North of Bucharest, area developing as the future Financial Centre with existing infrastructure.
• Excellent transport links underground station, main bus links, and easy car access to both central city and the motorway network.
• Easy access to the main sky resorts: Prahova Valey, Poiana Brasov, Sinaia, Predeal from North of Bucharest
• Proximity to major employment opportunities for professionals ensures rental income.
• Major retail close by, the biggest Bucharest shopping centre- Baneasa City Shopping (1, 2 mile radius).
• Recreational areas in close proximity (forest and lake areas within 1mile radius).
• Leisure facilities within the complex and around Herastrau Lake, tennis carting, restaurants and clubs
Belvedere Baneasa is being developed by a partnership of Romanian companies, including a prestigious bank, all of them with a good track records and extensive local market experience. The project is being sold by the developer directly to clients with no middleman involved. This is an incredible investment, with a finance plan designed for high capital gain.
Payment Plan:
3 different options are offered for payment:
Option 1 - 10% initial deposit
- 30%when the structural work is completed
- 40% 3 months before the completion
- 20% completion
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Option 2 - 10% initial deposit
- 15 % paid in 30 instalments , each month an equal fee to be paid
- 5% paid in the 32nd month
- 70% completion, financed by the bank
Option 3* - 20% initial deposit
- 80% in 5 instalments , representing 14% each fee /semester
- 10% completion
Option 4** ( for investors)
- 30% initial deposit
- 70% at the completion
* Option available to those providing documetation to prouve eligibility for a mortgage aplication.
** A discout is offered for those choosing this option of 2 % from the total price.
Facilities within the Development
4 blocks of flats / 678 luxury apartments
We are building for you and that is why we commit ourselves to achieve a house which will express your unique style and personality.
Modern Habitation
Located in a commercial and business area of a new urban centre, Belvedere Baneasa Residence has harmoniously joined to the North of Bucharest
Built-up on an area of 70.000sqm, Belvedere Residence has all the facilities of a new residential area which is well thought for a social and cultural lifestyle
medical and beauty centre
commercial centre
parking places for at least 800 automobiles
recreation centre
club house
kinder garden
after-school
restaurants
walk on the lake shore
covered/uncovered pool
sport court
In Belvedere Residence you will take advantages of:
modern compartments
high-standard of interiors
high-standard of utilities
new technical equipment
large surfaces between 70sqm and 200sqm
large terraces
styled lobbies
direct access to the underground parking places with the elevators
Big surfaces, high-standard of utilities which are adapted to a modern life, very well location, all these benefits make from Belvedere Residence a very good choice in buying a house
School and Kinder garden
In Belvedere Residence your child will be happy and safe
He can find here many playing areas, modern and safe, especially designed for enjoying themselves. And because the future of your child is very important for us kinder garden and German school with 1-4 grades and after school from belvedere residence will hire selected employers with a high level of professional training , very careful in the personality development of each child
Parking places
This may be a problem in Bucharest, but not for you.
The 800 parking places will make parking a nice and comfortable experience. Located underground, the parking plot protects your car for any weather conditions; moreover, it gives you an easy way access to your flat due to couple of four people capacity elevators which are available on every building corp.
Architecture
Interior
The space generosity, the high-standard of utilities which are adapted to a modern
Lifestyle and it’s very good location make of Belvedere Residence a perfect choice in buying a house
Each apartment has at least one terrace which can be transformed in an amazing garden. The particularity of the apartments in the residence is given by its large terraces, which are space reduced from one floor to another and which have a beautiful view to the lake.
Own terrace
large surfaces
Cosy accommodation
Exterior
Our architects have made everything possible to escape from the common barriers of living, and gave to the Belvedere Residence some unique features. Beside a perfect architectural structure they have literally obtained suspended gardens for each apartment as well as relaxation and/or brunch serving spots during the hot days of summer
Suspended gardens
Pool which have their own thermal water
Relaxation spots
Location
Located in a commercial business area of a new urban centre, Belvedere Residence takes part in the fast increasing development of northern Bucharest.
The Residence will be located between 79-81 Pipera-Tunari street and will benefit from a solid infrastructure due to it connection ties -through bridges.
With a surface of 70.000sqm, the residence complex contains 4 residential buildings of apartments, an office building and all the facilities of a nice living
Apartments
All 4 buildings will be structured in 3 different parts, each part will have at the last floor 2 duplex`s with terraces offering a beautiful open view to the lake.
The Residence will contain 600 flats with 2 to 5 rooms including duplex. The way that this project was made is truly a German conception.
Lifestyle
Medical and beauty centre
Belvedere Residence offers the entire varieties of services required for relaxation and beauty and health care.
The health centre will include thermal water from the area, covered and uncovered
pool and also sauna .
The Belvedere inhabitants won’t be any more obliged to go in the city for a beauty salon, because Belvedere Residence will offer them high-standard services
fitness hall
pools, sauna
beauty salon
Shopping centre and restaurants
In the Belvedere Residence you can find German traditional restaurants, Italian and Irish pub, or special places for parties or business meetings
Located on the edge of the lake these places are very charming
All the buildings from Belvedere Residence have their own commercial places at the ground floor of each building which contains every need you want
Parks
The entire residence is designed for living in comfort, and that’s why all you can find here is made for you to have an easier life. You will have the possibility to walk in the
Park beside lake or enjoying views designed especially for you by our architects: artesian-well , Japanese garden , waterfall and beautiful lights .
Sport field
Belvedere Residence will have a complete sports ground with football court, basketball court, tennis court and golf court , swimming pool etc.
Wharf
Belvedere Residence by its privileged location on the lake shore is offering a strong reason for you to practice water sports, boats rides.
Practical Example
Local Market Analysis – Belvedere area Bucharest
(Communist era flats v new builds)
1) Pricing of existing communist era flats
A two bedroom apartment (equivalent to 3 rooms in Romania) average price in the Baneasa area is €285,000 for a 115 sq metre net area (including balcony). So they can be compared with the new build, the above price needs to be transformed into €/ sq metre built +Vat. After the calculations, the equivalent of the above price is aprox.:
€1860sq metre + VAT.
Q: How was the average price obtained?
A: average price taken from the main property search engine in Romania
2) Pricing opportunities “ Belvedere Baneasa” (VAT = 19%)
Development = 678 flats
Phase 1 I building at € 1,595 per sq metre built +Vat
II building at € 1,755 per sq metre built +Vat
Phase 2 III building at € 1,930 per sq metre built +Vat
IV building at € 2,150 per sq metre built +Vat
Q: Why is the property cheaper at the start of the development and then it goes up in value?
A: As a developer, in order to get a better deal with the financing bank, we need to have a certain level of interest in the early stages of the project. Because of that, the first few apartments we sell almost at cost. To ensure our profitability, we increase the price towards the completion of the development, when it can easily be absorbed by the local demand.
Conclusions
Our apartments are currently 18.6% cheaper than the thirty year old, dilapidated communist era properties. Because you initially invest only 10% deposit, this means you may have a186% return on your investment right from the beginning, subject to market conditions. This will give you good start in developing your capital gain expectations.
Note: Even if you achieve this good start, it is very difficult to sell these contracts straight away because you compete with us, the developer, in selling the apartments. However, towards the end of the development, when we finish selling, we would be interested in finding clients for your properties and in this way help your ‘exit’ strategy.
Q&A Section:
1) Can we offer a rental service?
A: We will once a development is completed – this is not the case at present!
2) What is the rental yield in Baneasa area, Bucharest?
A: A Communist two bedroom apartment is currently renting for €1200-€1800 per month. “Belvedere Baneasa” would probably, pessimistically, achieve €1800-€2200 per month. In other words, assuming that you had your property completed at this moment in time, you could achieve a rental yield of 6.5% which would have covered the cost of your mortgage.
3) Guaranteed rental income?
A: Guaranteed rental normally applies to holiday resorts where income from travel companies can be taken into account. This is not the case in an urban situation in Romania.
4) Where can you meet us?
A: You can either meet our knowledgeable team based in our London office or meet our colleagues in Romania. We organise supported visits to Romania for prospective clients. Contact us for more details.
Key selling points / Investment justifications
10% initial payment
Current rental yield 6.5%
Offices: London, Bucharest, Brasov
Exit plan (potential to re-sell through our Romanian offices)
NO middleman involved
Local market information at NO extra cost
Financing available
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