This year's most expensive apartment was sold in Bucharest for two million euros, a transaction that set a new record on the market of luxury flats. "These apartments are extremely rare," said Ionut Bordei, a broker with real estate consultancy company Eurisko, which handled the transaction.
The apartment spreads on 500sqm, which is comparable with a basketball court, and the money paid for the flat could buy 300 Dacia Logan cars or six Rolls Royce limousines, with all taxes included.
The price of this fully-furnished apartment, located in the affluent neighbourhood of Primaverii-Dorobanti (northern Bucharest) reaches 4,000 euros/sqm. This type of deal only involves cash.
These apartments can be found in new buildings and generally have five rooms, with top-of-the-line facilities and finishes and certain elements and features that are not available on the local market.
"Such an apartment comes with numerous features designed to make life easy for the owners," said the Eurisko official.
The buyers of these apartments are generally Romanian businesspeople, but also foreigners, although the latter generally opt for renting luxury apartments.
Another 500sqm apartment, on the top floor of a four-storey building near Herastrau Park was sold in June for 1.15 million euros.
"This apartment comes with a 70sqm terrace, with a unique view on the lake," according to representatives of Euroest, the real estate company which brokered the deal. The buyers were Romanian businesspeople.
Real estate company Regatta's biggest deal for an apartment this year was the sale of a four-room, unfurnished apartment for 600,000 euros. With a total surface area of 300sqm, the apartment boasts modern finishes and was also bought by Romanian businesspeople.
In the highbrow Primaverii area, where the apartment supply is rather scarce, a 450,000-euro apartment was sold this year, but the buyers were not businessmen or even Romanians.
The "mere" 160sqm residence was bought by a Syrian doctor in March, with the price per sqm reaching 2,800 euros, according to representatives of Rasig Group, the company involved in the transaction.
The luxury segment is booming, especially in Bucharest's northern area, where prices per square metre range between 1,500 and 2,500 euros, but can easily exceed these levels in the case of residences with state-of-the-art furniture and facilities, and also if they come with additional incentives such as garages or a fitness center in the building.
Despite these prices that are quite prohibitive for most of the population, market experts say that interest in this type of apartment is rising, which is why residential ensembles for high-income earners are still being built.
Businessman Ion Tiriac, one of the main Bucharest landowners, has said he plans to build a luxury residential estate worth 300 million euros, near Baneasa forest.
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