Building Land for Sale in District Baneasa, Bucharest, Bucuresti, Romania

Building Land for Business or Privat Investment

A partial purchase (min. 2,000 m2) is also possible. Further information are given below.

Size:
27,500 m2 (296,017 square feet; 31,890 square yards)

Location:
Romania, Bucharest, sector 1, district Baneasa, north-western part of Bucharest; one of few places in Bucharest with greater opportunities for development

Possible use:
Plot is classified as building land; house building and utilities (selling and social facilities, administrative offices); so far approved for 6 floors, applied for 8 1/2 floors. On neighbouring plots buildings have already been constructed (villas and six-storey houses)

Transport connection:
Only 800 m (0.5 miles) away from the North-South line E60 (Soseaua Bucaresti Ploiesti) and the East-West connection Soseaua Odaile; in the vicinity of the airports Bucharest Otopeni International (6 km / 3.7 miles out of town), and Bucharest Baneasa (5 km / 3.1 miles into town).

Land tenure:
German owner with residence in Frankfurt/Main, clearly clarified ownership and respective entries in the land register

Marketing:
German agent in cooperation with Austrian/Rumanian agents and local lawyers/notaries in Bucharest.

Price and assessment:
Due to reasons of age of the owner a short term sale would be appre-ciated in spite of the bad state of the market. The owner is aware of the fact that current conditions do not allow an ideal purchase price.

In 2008 (before the financial and economic crisis) there were offers for the whole property up to 13.7 million € (500 € / m2). Due to technical and administrative problems a sale then could not be concluded. These problems have been solved in the meantime.

Current Prices:
• 6.88 million € (250 € / m2) for the total site
• For partial purchase of land (min.2,000m2) a 10% higher price is calculated due to the increase of ancillary costs

Investment chance:
With the economic recovery in Romania prices are expected to return to similar amounts as before the crises. This would give an investor a chance of a return of nearly 100%. Thus, the offered plot means an interesting low-risk investment for business or for private purposes.