2017 was characterized by an increased appetite for people interested in buying luxury homes compared to the period 2009-2015, and the trend will continue for this year, at the same time with the new premium home projects to be delivered and which are now in various stages of construction or authorization, says Mihai Dumitrescu, managing partner, head of residential, land and investment with Crosspoint Real Estate. Besides, the most valuable luxury apartment in 2017 was a penthouse located in Primaverii area, in a new building with a promotion price of 2,900,000 Euros + VAT.

The average price for luxury properties is currently around 2,800 Euros / sqm compared to 3,500 Euros / sqm in 2007, according to Crosspoint, which sold last year a total of 180 residential units (of which 15 are luxury), on behalf of the developers that the company represents exclusively, with a total market value of 13.33 million Euros.

The most expensive real estate offered for sale by Crosspoint was a penthouse with two terraces and outdoor Jacuzzi in the Premio residential project (developed by the Italian Nusco group in the Capital) for 1.2 million Euros plus VAT. The home has a usable area of 250 sqm and a 486 sq m terrace.

At the same time, through Nordis, the luxury apartment, which had the highest value in Bucharest, in 2017was traded, a penthouse located in Primaverii area, at a promotion price of 2,900,000 Euros plus VAT. In 2017, Nordis mediated the sale of approximately EUR 14,000,000 worth of properties, including premium and middle-sized dwellings located in the northern center of Bucharest.

The property benefits of terraces with a total area of 200 sqm, with a panoramic view over Primaverii neighborhood and Herastrau and Bordei parks. The apartment is disposed on two levels and has a total usable area of 400 sqm and five rooms (living room with kitchen, office and three bedrooms, each with its own dressing), plus five bathrooms and a fitness room. The price also includes two parking spaces in the underground garage of the building.

In terms of buyers' profile, luxury homes are often acquired to be inhabited. There are also investors who are particularly interested in houses, villas or penthouses in luxury areas (Primaverii, Kiseleff) to rent them to expats, embassies, etc. Those who buy a house for their own purposes are usually entrepreneurs, business owners, top management, expats, aged 40-60, with revenues of over 200,000 Euros annually, "says Mihai Dumitrescu, head of Crosspoint.

Nordis consultants also show some of the apartments were bought by investors, in the building phase of the real estate and resold, with a profit of up to 40%.

We have centralized the most expensive luxury properties sold last year in the Capital in the following table. It is noteworthy that most of the houses traded were in One Charles de Gaulle and One Herastrau Park, projects raised by One United Properties, the leading real estate developer specializing in exclusive residential properties in Bucharest. One United Properties has several completed residential projects finished (188 apartments), under construction (340 apartments) and which are due to be started in the coming years (over 500 apartments).

#ProjectSale Price
(w/o VAT)
1Penthouse2.9 mil. EuroNordis
2One Charles de Gaulle
2.1 mil. EuroSKIA Real Estate
3One Herastrau Park
1.9 mil. EuroSKIA Real Estate
4One Herastrau Park
1.55 mil. EuroImoteca
5Apartment1.5 mil. EuroRE/MAX
6One Herastrau Park
1.35 mil. EuroSKIA Real Estate
7One Charles de Gaulle
1.25 mil. euroDorobanti Luxury House
1.2 mil. EuroCrosspoint
9One Herastrau Park
1.1 mil. EuroGoldenKey
10Apartment1.05 mil. EuroRegatta
11One Charles de Gaulle
1 mil. EuroSmart Property
12Apartment1 mil. EuroRE/MAX

Source: Wall-Street.ro.