A group of investors bought 35 one-bedroom apartments in Central District 4 Elements residential projects for EUR 3.4 million (plus VAT). The project is developed by Forty Management in Titan area. The investors will rent the apartments.
The investors also purchased Forty Management’s complete furniture proposal for these apartments, along with 35 parking spaces.
According to a study commissioned by imobiliare.ro in the Titan area a new apartment with one bedroom, fully furnished and with parking place comes with a rent worth on average EUR 600 euros per month, which means an investment yield of 7.4 percent per year, without adding the capital gain from the eventual appreciation of apartment prices.
In the transaction for the 35 apartments, Forty Management offered all the services needed for this concept of buy & rent: a certified green building (which comes with low maintenance costs), an international award-winning project, high potential for growth in value, the concept and furniture and the company that will handle the renting and administration of these apartments.
“Residential is interesting if you look at it now as an investment market. There are special projects, such as Central District 4 Elements, where the yield generated by this concept buy & rent is similar to the last transactions in the office area, but which requires investments of tens of millions of euros. The advantages of these investment products are the ability to absorb the eventual shocks of the real estate market, the safety and stability, the low cost of access to such a yield, but also the ability to turn the product into money at any time,” says Lucian Azoiței, Forty Management CEO.
Central District 4 Elemente is a mixed-use project with 204 apartments and 1,500 sqm of commercial area and will be completed in the fall of this year. It is the first mixed residential project in Romania with a running track on the roof and outdoor cinema.
Central District 4 Elements is a pre-certified project “Green Building” and winner of “Mixed-Use Development Romania” at the International Property Awards 2020, London.
Forty Management will start next month and the construction of the Central District Viitorului134, a mixed project, with 1,000 sqm of offices and 33 generous apartments, divided into two buildings, with height regime GF + 4R + 5R and GF + 2 + 3R, respectively, which communicates through a green pedestrian area.
Central District Viitorului 134 is the winner of the “Residential Development of the Year” award in Romania at the International Property Awards 2020, London.
Forty Management is already working on the development concepts for two new real estate projects located in the northern area of Bucharest and remains faithful to the unique concept imposed, from the beginning, on the market: Affordable luxury and Smart Development.