Investment Property - Jucu Apartments – Real Estate Romania, Cluj Napoca

 
Investment Property - Jucu Apartments – Real Estate Romania, Cluj Napoca

Fantastic location just 400 metres from future €60 million Nokia plant employing 15,000 people  / Excellent price of just €533/£365 psm/.
 
Units 18% below market value according to an independent valuation
We have secured a 5% discount from the developer, an average €2,749 on a unit
Outdoor parking, worth an estimated €950, is included in the cost of the apartment
Jucu Apartments offers an excellent low-entry-level opportunity for you to purchase property in an area in Romania that is about to undergo huge government and industry investment, priced at 18% below market value.
 

Nokia is investing up to €65 million in a new production and research facility in Cluj Napoca. This time next year, up to 5,000 people will be working at the plant, “Nokia Village”, which is due to reach full operational capacity with 15,000 employees in four years time. Property Secrets has secured a lucrative investment opportunity just 400 metres from Nokia Village.
 
real estate cluj
Jucu Apartmentsis a development of 90 units, of which 59 have already been sold on the local market. It will be the nearest residential development to “Nokia Village”.
 
Prices at Jucu Apartments are exceptionally low at €533/£365 psm and a very low entry price of €50,873/£34,844. Our independent valuation has valued our units at 18% below market value. In addition, parking spaces are included in the property purchase cost, representing a saving of €950 according to the valuation report.
 

real estate cluj
Jucu Apartments is ideally placed to take advantage of more than 30,000 new jobs coming to the area as part of a major boom led by companies such as Nokia and General Motors. The Government is also investing a further €33 million to improve the local infrastructure. House prices are already starting to rise and, in 2006, there was a 25–30% jump in the market. By the time Jucu Apartments completes in August 2008, we are predicting the market will have risen by 30% or more in just 12 months.
 
real estate cluj
Jucu is also well supported by its proximity to Cluj-Napoca, set to become Romania’s second city. The population of the city is expected to grow from 314,000 to 500,000 in the next year and to one million over the next ten years. An extended city population coupled with an increased demand for accommodation will sustain increased property prices and returns for property investors.
 
 
Jucu Apartments is the closest residential development to the future “Nokia Village” in Jucu, Cluj-Napoca. Any residential development located within walking distance (just 400 metres) of Nokia, and 15,000 employees is without doubt, an exceptional location.
 
real estate cluj
We estimate a capital growth of 30% when Jucu Apartments completes in 12 months time. The timing of the completion of the development, in August 2008, will coincide with the first 5,000 workers starting in Nokia. Jucu Apartments will be situated just 400m from Nokia Village. There are very few new residential developments in the area, so we estimate rental demand will be very high on completion. Supply of residential property in the area will not meet the future demand of the 30,000 new jobs at Nokia and General Motors.
 
Based on this demand, we forecast rental yields AND capital growth to be high – a combination not normally seen in high growth markets.
 




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