Why is Corbeanca a good investment?
30 May, 2016
Why is Corbeanca a good investment if you are working in the North Part of Bucharest? Or if you want to invest in a secondary home? Or if you are working overseas and you are thinking to invest in your natives?
What are the implications of such financial investments?
This is a question that many of the roughly 1,500 couples that visited us in Corbeanca last year had. What is more special about Corbeanca to justify a real estate investment compared to other areas of Bucharest? Finally, how do we approach this decision that has major implications on our lifestyle?
The explosive demand for apartments/houses in the northern districts of Bucharest is due to the high concentration of new offices in the area, particularly in Pipera. Promenada Mall is slowly becoming the new ‘downtown’ area of the North.
Meanwhile, constantly improving infrastructure, partially due to the airport’s requirements for a fast, direct city access, has facilitated an intensified interest in development around the DN1 area.
Corbeanca is in the spotlight also by eliminating other possible residential choices in the North who have a predominantly industrial character: Otopeni, Buftea, Stefanesti, Mogosoaia. On the other hand, Pipera and Straulesti are too close to Bucharest. With a land price tag over € 100/sqm, developments are forced on height, creating a different kind of urbanism, denser, with common spaces limited to a minimum. Due to the land prices, a lot of € 30,000 is squeezed under the recommended 500sqm. Under 300sqm it begins to become a block.
The only area that focuses sufficient numbers of families with incomes above average is Corbeanca: this promotes the development of services in the area. Natural demand encourages businesses related to the needs of families who move into houses with gardens.
With a land price that allows a normal (minimum) 500sqm lot to fit into a budget of € 30,000, Corbeanca is favored by high demand growth in the last year. The increasing demand has all the prerequisites to be a long-term one, judging by nationwide figures of ‘mortgage penetration’ that are an order of magnitude lower compared to the first wave of Eastern European countries joining the EU.
With the milestone of 1,000 real estate transactions per year reached, each with an average price of approximately € 75,000 and growing, Corbeanca is an area with great investment potential in the proximity of a growing city.
The 700,000 apartments built before 1989 the city is changing its tenants, aided by funding from “Prima Casa”. For some it is a historic opportunity, ‘once in a life time’, not to be missed.
Attached an interview published by Arena Constructiilor, with reference to the same topic (Romanian only): Click Here!