The evolution of prices for new apartments in Greenfield between 2014 and 2021

02iul.2021

It is very well known that the most important aspect that a real estate investor considers when purchasing an apartment or a housing package, is the property price appreciation in the medium and long term.

The predictability of such a favorable price evolution is due to the analysis of a combination of factors, such as investments in the area, urban mobility facilities, growing demand for rental housing, etc.

Thus, in Greenfield Residence, the increase in home sales prices followed the investments made in the neighborhood, starting from the constant concern for sustainable constructions, for technical solutions and state-of-the-art finishes, investments in facilities aimed at increasing the quality of life and housing for the residents’ community. Another factor that has been contributing to the appreciation of housing prices in Greenfield Residence is the high demand for rent in this residential compound. The location in the northern area, in the immediate vicinity of the forest, in Sector 1 certainly favored this context.

Therefore, in the residential compound Greenfield Residence, prices have risen in recent years, and those who bought a home here 5 or 6 years ago, can account for a significant increase in the value of real estate assets.

 

Appreciation of up to 61% in 6 years

 

If we analyze the numbers, we can easily see that the average transaction price of a 2-room apartment in Greenfield Residence has steadily appreciated over the last 6 years. In 2014, the average price without VAT was 48,645 Euro and at the end of 2020, the same type of apartment was traded with an average price of 78,315 Euro. The biggest price difference recorded is 32,000 Euro, which, you have to admit, is really impressive!

 

We can easily see the same trend of considerable appreciation of the transaction price in the case of a 3-room apartment: the average transaction price, excluding VAT, was 64,484 Euro in 2014 and increased to 92,590 Euro in 2020. This means an appreciation of 44% in 6 years. Following the same model, a 4-room apartment, with 124 sqm, has appreciated in the last 6 years with more than 50,000 Euro.

 

It should be noted that all these calculations take into account prices without VAT and without parking.

 

Between 2014 and 2021, over 4,500 people chose to live in Greenfield Baneasa

 

As long as the market and the economy follow their normal course and the need for housing remains at a very high level (we still register a large number of people per unit, Romania being the European country with the highest percentage of overcrowding, three times higher than the European Union average), the upward trend in prices may continue at an even faster pace than before, given the new building regulations (nZEB requirement, for example) that require additional investment, higher costs, therefore increased prices.

 

Screening the above data, it would not be a surprise to feel some regret that you did not invest in a home in Greenfield Residence a few years ago. Although a generator of positive energies, it is time to put regret aside and look to the future with optimism. The opportunities to invest still exist.  

 

With 30 years of experience in the residential market, we are currently working on the construction of the fourth phase of development in Greenfield Residence and the prices for the new homes are exclusive during the launch period. If you want to benefit from the unique offer, you must know that the prices are only available until the beginning of August 2021.

 

Thus, a studio of 62 square meters has a special price of 72,950 Euro plus VAT in the pre-sale launch offer. A 2-room apartment with an area of 76 square meters can be purchased until August 1st at the special price of 88,369 Euro plus VAT, and a 3-room apartment with an area of 103 square meters has an exclusive price of 120,552 Euro plus VAT.

 

Starting with 1st of August, the acquistion price for a 62 sqm studio will become 79,768 Euro plus VAT, a 2-room apartment with a total surface of 76 sqm will have the price of 96,785 Euro plus VAT and the price of a 3-room apartment with 103 sqm will be 131,925 EURO plus VAT.

 

Investing in development to increase the value of housing

 

The positive evolution of prices in Greenfield Residence will be further supported by our investment plans in the development of the complex. We have partnered with the municipality to build a state school and kindergarten, and Greenfield Residence will be one of the few nationwide projects to provide residents with public schools.

 

We also started the construction of Greenfield Plaza, a multifunctional center that will include a strip mall, SPA, indoor and outdoor pools, fitness rooms and additional spaces for services. The investment will be completed at the beginning of 2022 and will cover 21,496 sqm.

 

The development of the neighborhood is based on intelligent solutions that ensure the efficiency of resource consumption over a long period of time. The inhabitants of the complex have a healthy lifestyle and there are many opportunities to practice sports in nature in Greenfield Residence and its surroundings.

 

The complex has many green spaces, including private parks, promenade areas and multiple playgrounds for children. In addition to these, 4,500 square meters of sports facilities such as fitness areas, sports field and swimming pools are a normality that encourages health living.

With a long-term development strategy, Greenfield Residence will soon be one of the largest green projects in Eastern Europe. The high energy efficiency of buildings and the infrastructure in the complex that facilitates the responsible consumption of resources are sustainable investments that will also contribute to increasing the value of housing.

 

About Impact Developer& Contractor S.A.

 

With 30 years of experience on the market, Impact Developer & Contractor SA is the largest real estate developer listed on the Bucharest Stock Exchange. The mission of Impact Developer & Contractor is to develop sustainable projects, at modern standards, both in Bucharest and in the big cities of the country. Among the developer's reference projects are Greenfield Băneasa and Luxuria Residence, a luxury residential project with BREEAM Excellent Certification. As part of the national expansion strategy, this year, Impact started the construction of a premium residential project in Constanța, Boreal Plus, a mixed project consisting of 18 villas and 676 apartments, built on an area of ​​43,000 square meters, which will be completed in 2024. Also, Impact continues the expansion at regional level and starts Greenfield Copou, in Iași. The works start in 2021, with a completion deadline in 2024, being built in three phases. The project includes a total of 1,062 apartments, built on an area of ​​48,685 square meters.

 

For more details on the Greenfield residential complex you can access the project website www.greenfieldresidence.ro  or you can contact us by email at greenfield@greenfieldresidence.ro

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