Palace Estate reports deals worth EUR 10 mln in 2016

Newsroom 02/02/2017 | 11:39

Real estate brokerage and consultancy company Palace Estate brokered real estate deals valued at 10 million EUR in 2016, according to company data. 

Last year the company saw a growing appetite for investment deals both for plots of land acquired for future developments and for income producing assets, said Yaniv Dahan, the company’s CEO & founder. “Among the main deals that Palace Estate brokered in 2016 we mention: three plots of land located in Unirii, Domenii and Pipera, with values over 1 million EUR each, two business centers in the North area of Bucharest, each sold for 2 million EUR, and premium & luxury apartments worth of 2 million EUR”, he added.

The company’s clients are mainly looking for apartments of more than 100 sqm with two or three bedrooms for which they are willing to pay between EUR 120,000 and EUR 450,000. For villas, budgets usually range between EUR 250,000 and EUR 600,000.

Given office developments and recent infrastructure works in Pipera, Dahan estimates demand for residential properties in this part of Bucharest will go up in 2017.

The company, which was established ten years ago, focuses mainly on premium properties in downtown and northern Bucharest.

Simona Bazavan

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