The Romanian dream is at its peak: a new record for the sale of villas to young families in Bucharest, the Israelis do not remain indifferent and rush to invest.
According to a study by the leading real estate board in Romania, a record purchase of Bucharest suburbs villas was noted in 2022. The price per square meter continued to rise over the last financial quarter and the market demand surpasses the supply.
Compass group Romania / 02.03.23
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A new survey that was published today (Thursday) by imobiliare,the leading real estate board website in Romania, indicatesthat the demand for villas among young families is on the rise. Following the corona crisis and prolonged lockdowns, we see a growing rush of young families leaving the city center in favor of private houses with a garden in the suburbs of the city (about a 20-minute drive from the city center).These areas offer young couples a better quality of life for their growing families, outdoors, gardens, international schools, leisure and shopping centers and more. In addition, many people continue to work from home and as a result require larger spaces than the common two-room apartment in the city center. Others enjoy a quality of life without traffic jams on their way to work in the high-tech area, which is only about a 10-minute drive away.
Romania’s economy has significantly changed over the past decades and is currently the 11th largest economy in nominal terms, and the eighth largest in terms of purchasing power in Europe. According to the Wikipedia website, Bucharest, the capital of Romania, is one of the most important industrial and financial centers in Eastern Europe. Following the entry of technology giants (Oracle, HP, Amazon, Microsoft, etc.) into the market and the opening of development centers, there are diverse options for remote work –the freelance market in Bucharest noted a 300% plus growth over the past yearalong a massive growth in the tourism market and hundreds of Airbnb apartments – we are witnessing a change in the nature of the local population. The segment of 25-54 years old account for more than 43% of Bucharest’s population and are changing the rules of the economic game.
In recent years, the Balotesti area has attracted young couples and middle-class housing improvers, both due to its proximity to the high-tech employment areas in the north of Bucharest and its access to the main transportation routes into the city and to the shopping, recreation and leisure centers.
Meet the new Compass on the Lake project – a luxury residential complex on the shore Balotestilake that includes only 32 housing units. The complex is in a strategic location between the two highways to Bucharest from the north, about 20 minute drive from the city center, about 7 minute drive from the international airport and only 10 minutedrive from the Baneasaleading shopping complex shopping center, which offers over 100 thousand square meters of commercial space with an international brand mix.
Now at presale prices for a limited time only, starting at 249,900 euros including VAT, purchase tax, attorney and notary tax.
Strategic location for high-tech people
It is no longer a secret that the international high-tech industry constitutes a significant share of the Romanian economy. The young people working in the development centers are looking for comfort and proximity to the workplace and refuse to stand in long traffic jams every day. About a quarter of a million workers come to the high-tech park next to the project every day. Also, the area attracts many of the international hi-tech management community who are relocated to Romania on behalf of their parent companies abroad.
It is easy to understand why the demand is so high
Young families strive for a balance between work life and home life, and find an alternative in the form of living in a luxurious villa with a private garden, where it is easy to assign a study room as a real and practical solution for creating the perfect balance between quality of life and family life; All this near the outdoors, a close by lake, international educational institutions and more – all within a short drive from the nearby high-tech centers.
The Compass on the Lake project offers quick decisionmakers luxury villas sitting on a plot of 230 square meters, with a modern-minimalist design that combines concrete and wood and a high finishing level. The luxurious specification includes air conditioning, underfloor heating, Italian doors, quality kitchen cabinets, upgraded sanitary ware, parquet floor and more. In addition, each villa has balconies and two parking spaces listed in Land Registry.
The built-in area of the villa is 120 square meters divided into two floors – an entrance floor and a living floor.
The entrance floor includes the living room, dining area, modern kitchen and guest services.
The upper living floor includes a spacious master suite with a private balcony, two additional bedrooms and a bathroom.
In addition, the villa includes a private garden with an area of 180 square meters, which includes a covered area of about 20 square meters.
The location of the project, the attractive price, the designed villas, the rich and prestigious technical specifications and of course the fact that the villas are expected to be delivered already during 2023 make the project very attractive to the Israeli investor.
Interested? Send us a message.
A peace of mind investment
Compass Group is an Israeli-owned company specializing in luxury residences and property management overseas. This real estate project was carefully chosen out of an entrepreneurial vision and passion to create a solution for a family living experience while paying attention to the small details and integrating the project with the environment and nature around it.
The project entrepreneurs bring with them a cumulative experience of over 30 years in accompanying and initiating real estate projects in Romania and throughout Europe. The company, led by attorney Ilan Leibovitch, an expert in international legal assistance and a former member of the Israeli Parliament (16th Knesset) and the highly experienced entrepreneur Moti Azulay, a doctoral student in management and an experienced real estate investor.
The project team is a local, professional and experienced Romanian team with great seniority and rich experience in its field – people who love and breathe real estate and are committed to results. The team in charge of the project ensures its connection to the local market and its success.
We believe in creating a better future and develop projects that include tomorrow’s residential solutions combined with innovative ecological solutions. We accompany the investors from the stage of adjusting the villa to handing over the key and locating tenants through a professional management company.
Hand in hand, throughout the project
Your safety is the foremost important aspect of the project. Accordingly, the buyers will receive several guarantees that will allow them to protect their investment:
- Warning note signed by a notary until the registration of ownership at the time of delivery of possession.
- Legal support in Hebrew and a Romanian attorney firm that accompanies the project.
- Upon handing over the keys to the villa, ownership of the villa will be registered in the name of the purchasers in the Romanian Land Registry.
- The services of a management company of your choice to handle the rental and maintenance of the property.
Project Compass on the lake Balotesti, Romania Interior visualization
A winning investment
An investment in the Compass on the Lake project in Balotesti is attractive, worthwhile and stable in the long term, not only due to the rising demand for villas among high-tech young people in Bucharest, but also due to the fact that it is a sought-after and developing area (prices in the area rose by about 10% in 2022 and in the last four years the price of villas in the area doubled) with an expected price increase in the future as well.
Interested? Send us a message.
