Sydney Residence selling off plan in Tunari Bucharest Romania

Modern, stylish and architecturally designed, the Sydney Residence at Tunari set a brand new standard for affordable luxury living in the Romanian Capital of Bucharest.

The established forests and lakes of Tunari provide the perfect backdrop for families who want to combine the best of contemporary living with exceptional architecturally designed and finished homes enclosed in a secure, relaxed family environment.

Sydney Residence comprises three stylish and unique designs of new build villas. Each home is expertly crafted to incorporate modern open plan designs, generous living and family areas and fabulous gourmet kitchens.

All homes offer a high specification finish with state of the art kitchens and appliances, luxury marble bathrooms, built-in wardrobes, air conditioning, landscaped gardens and a tiled courtyard that is perfect for entertaining guests and indoor/outdoor casual living.

Tunari, one of Bucharests’ best kept secrets

Up and coming Tunari boasts good transport links and shopping amenities. Tunari is being tipped as one of the next major growth areas of Bucharest, a statement that can be backed by the exceptional growth and increases in land values achieved over the last 2 years in the neighbouring suburbs of Baneasa and Pipera.

In addition, all the signs are there that  property prices in Romania are on the up. A Place in the Sun tipped Romania as Nº 1 in their 20 Best Places to make money in 2006 and whilst initial property purchasing interest in Romania has been centred around Romania’s Black Sea coast, capital city Bucharest, once nicknamed ‘Little Italy’ for its tree-lined boulevards is now attracting property investor attention. Planned EU ascension in on Jan 1st, 2007 is causing real estate prices to rise, coupled with the fact that both Bulgaria and Romania are expected to adopt the common European currency before Hungary which has been in the EU since 2004 which will remove currency fluctuation issues. Also on the cards, are increased low-cost routes with current mainstay Wizz Air who in June this year annouched an expansion of 9 new routes to Romania beginning January 15th 2007. SkyEurope started flights there in Sept 2005 and Ryanair has made no secret of the fact that it is looking at starting flight routes to the Eastern Bloc countries with Romania on the list.  

All these factors make the Sydney Residence Development at Tunari a smart choice as a good property investment and it is clear that interest in Romanian property is unlikely to subside for a while yet.

Availability
Sydney Residence is currently selling off-plan with Romania Revealed. Prices start from around €140,000 + VAT. VAT can be mitigated by setting up a company to use as a vehicle for the purchase.

For more details, floorplans and email Romania Revealed here or call 0845 054 8697 quoting Nubricks.

Company Formation
Clients should allow for the following:
1. €200 cost for trade registry
2. €450 legal fees
3. €100 “Initial Social Capital” (Paid Up Capital)
Clients can set up the company from London via Power of Attorney (POA) through the lawyer in Bucharest although he will need to sign the POA in front of a Notary in London and have the document Apostatised. It is relatively straight forward and cheaper than flying to Bucharest.

PAYMENT OPTION 1
Terms:
Deposit 40% cash on signing of contract
Monthly Repayments Balance on completion
Benefits:
a. Client only has to make one payment at the beginning and has nothing to worry about until the property is completed.
b. Allows the client time to arrange for the sale of their existing property or other asset.

PAYMENT OPTION 2
Terms:
Deposit of contract 25% cash on signing
Monthly Repayments (see below) staged payments
a. 3 months 20%
b. 6 months 20%
c. 9 months 20%
d. On Completion 15%
Benefits:
Clients can make staged payments in cash.

PAYMENT OPTION 3
Terms:
Deposit 100% cash on signing of contract
Monthly Repayments NONE
10% DISCOUNT APPLIES (from purchase price)
Benefits:
Clients receive a 10% discount off the price of the property.

COMPLETION COSTS
Fees:
Notary Fees .75%
State Fees .75%
Total 1.5%

COMPLETION DATE
3rd Qtr of 2007