Full Description

The Development

We are proud to announce the long awaited release of Darwin Residence in Bucharest. Following the success of Sydney, Adelaide and Melbourne Residences Darwin forms an integral part of a whole new suburb being created by our internationally renowned developer in conjunction with the local planning authority. As part of the expansion of Tunari the area, which was regulated for construction around 2 years ago, includes light commercial units for local shops, offices, schools and amenities which is lacking in many of the smaller residential projects in Bucharest.

Due to be constructed on an area of 26,000m2 Darwin includes 255 properties of various sizes from 60 to 208m2 placed within 13 sets of villas and blocks with up to 3 levels along with commercial spaces and 321 parking spaces. The wide range of properties will include apartments, duplexes and townhouses.

The unique architectural style and design of the properties has been formulated from extensive market research of some 3,000 Romanians, ensuring the properties meet the aspirations of the emerging middle class and young professional families within Bucharest. The mid to high end sector of the property market in Bucharest has the largest shortfalls and the greatest demand, especially within the desirable city suburbs.

Each of our Tunari projects is aimed at the Romanian market and the needs of the professional in Bucharest, the properties are not aimed at the overseas investor hence no studio apartments are being constructed and no high rise tower blocks. This building style was used during communism as it was cost effective but is not what the modern Romanian aspires to live in or rent, this is another reason why higher rental yields are achievable in the suburbs rather than the congested, old city centre.

Unusually for Bucharest the full infrastructure of the development such as roads street lighting, storm drains and landscaping is provided by the developer and donated back to the state on completion so on completion your property, and surrounding environment, is ready to move in, or let out.

The Location

Situated within Tunari, one of the fastest growing residential and commercial areas of Bucharest, Darwin Residence is in a prime location to benefit from increasing property values. Vigorous investment in infrastructure and the continued Northern expansion of the city means this is fast becoming the most desirable location in Bucharest. Tunari is located just 3km from Otopeni international airport and 3km from the new Baneasa shopping district, soon to be the largest shopping district in South East Europe.

The residential, retail & commercial "City Centre" of Bucharest has actually moved to the North of the city, to Baneasa & Pipera, neighbouring districts of Tunari, due to the constraints of the old city centre such as traffic congestion. The property prices in Baneasa & Pipera are the highest in Bucharest at 2,000 - 3,000 euros per m2. The only logical corridor of development left in this area is Tunari where the land was regulated for construction around 2 years ago. Another suburb bordering Tunari is Otopeni, the most affluent district in Bucharest due to the international airport.#

Many multinational blue-chip companies have their European and Romanian HQ's within 3km of Tunari attracted to the area by the scale of investment, both domestic and international, it is currently experiencing. Global companies such as Microsoft, Vodaphone, Orange, Phillip Morris, Carrefore, Kraft and Ikea plus many more have opened within this area and are obviously major employers, giving a superb client base for potential tenants from both the local community and some 30,000+ expats working within the vicinity.

The new super highway from Bucharest to Brasov, and then North through Romania, will also pass within 3km of the development. International schools, such as the American School, are less than 1.5 km away as are the existing and proposed ring roads making travel throughout Bucharest, and indeed Romania, very simple.

We strongly believe this is the best area in Bucharest for long term investment, the location could not be better. The price of land alone in the area has increased by around 300% over the last 2 years, property has increased by a genuine 25% within 12 months and 20 -30% is realistically predicted for the next 12 months.

The Investment

Expected Rental Returns forecast by the developer for a one bedroom apartment is 6-8% a two/three bedroom is around 7-10% of the purchase price and finally townhouses at 8-12%. The figures are given as NET partly due to the rental system in Romania, the tenants pay all bills and outgoings including any communal fees, for upkeep of common areas in apartments for example.

Rental management companies capable of handling this number of properties simply don't exist in Bucharest therefore a management company will be in place for all clients should you wish to use this fully managed service.

Capital Growth As previously mentioned the price of land alone in this area has increased by around 300% over the last 2 years, property has increased by a around 25% purely from off plan prices, which in themselves are at least 10% below market value. Prices are expected to increase at the start of construction so further capital appreciation can be enjoyed by reserving at these early, prerelease prices.

Patment Plans & Dates Various payment plans are available to suit the individual investor, with discounts available for larger deposits. The first instalment is not required until signing of contracts in summer of 2008 and, if paying the balance on completion, the final instalment is due in 2010. An attractive build time ensures that you benefit from substantial capital growth with minimum outlay. In addition there are no restrictions on when you can resell your property.

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