Land Timisoara, Circumvalatiunii area

by Darius Georgiu

The land is situated on Calea Circumvalatiunii, with a highway opening and it has 4 lots, with a total surface of 55.562 square meters In the attached blueprint with scale 1:10000, you will find the whole lot hachured. In the CF plan after disruption, there are 2 hachured lots, which were sold, one to a MOL gas station, and the other to a company which plans to build an IBIS hotel. The street front has about 110 m and there also is an entrance between the 2 sold lots of about 7 m.The current owner bought the land in 2005, after negotiations with the town’s chef architect, establishing a height of ground floor 12 levels, but after negotiations with the town planning committee, the height was established at ground floor 15 levels. (after PUZ approval).Price: 800 euro/ square meter toal price of 44.449.600 EURO Imovis is a real-estate company started in 1997, located in Timisoara, west side of Romania. We are a team of profesionals who offers profesional services in real-estate.As you already know, Romania has a huge business potential in real-estate as a new member of European Union. Prices are at the moment situated at a very low level, expected to grow quickly.As we talked before, this is a brief report of the real-estate market in Timisoara.Informative prices:Old block of flatsCenter: 1000 – 1200euro/sqmPeriphery: 800 – 1000 euro/sqmNew block of flats, built since 2000Center: 1200– 1400 euro/sqmPeriphery:1000 – 1200euro/sqmHousesCenter: 2000– 3500euro/sqmPeriphery: 1500 – 2000euro/sqmOld Historical buildings:Center: 1500– 2500euro/sqmPeriphery: 800 – 1300 euro/sqmLand for block of flatsRelatively small amount of block of flats were built in Timisoara, aproximately 40 buildings. Blocks under construction together with already built blocks sum up aproximately 1200 apartments. Very few locations are in the city, where you can build blocks of flats P 4E, P 6E, P 10E, because of the severe height regulations.Center: 700– 1000 euro/sqmPeriphery:250– 500 euro/sqmDepending on the height regulation established in PUZFrom a report of Timisoara City Hall, the demand for tenant spaces (apartments) is between 15000 – 17000 in 2007 which were mostly 2 – 3 room apartments with 60 – 90 sqm space.In the near future will be a great interest for this kind of locations, because the demand of apartments is far greater then the supply.Office buildingsOffice rental prices:Class A: 12 – 18 euro/sqmClass B: 8 – 12 euro/sqmApartment offices: 5 – 8 euro/sqmSites good for office buildings are located on the main boulevards of the city and have bigger prices:Center: 800 - 1200euro/sqmPeriphery:300 – 600 euro/sqmWarehousesThe rental prices of warehouses are prety high and depend on the activity of renting companies. Warehouses for production and poluting activity are located in Sagului and Buziasului industrial platforms and there prices are 3 – 5 euro/sqm. Warehouses located on Torontalului, Aradului, Dumbravita – Giarmata Mare, Lugojului main acces roads, are used for storage and showrooms with rental prices of 5 – 7 euro/sqmHouses and villasThe prices of center an Periphery houses and villasAre between 200000 - 300000 euro depending on land area and built area. These locations have all utilities electricity, water, gaz and sewerage. Peripherial houses and villas and in new housing projects like Braytim, Dumbravita, Urseni, Ghiroda the prices are between 100000 - 250000 depending on the utilities.Land for housesCenter: 500 - 700 euro/sqm,Periphery: 150 – 350 euro/sqmNew housing projects with all utilities:100 – 130euro/sqm,all utilities without asphalt:70 – 100euro/sqm,water, electicity, gas40 – 70euro/sqmwater, electricity30 – 40euro/sqmwithout any utilities 30 euro/sqmBuilding pricesBlocks of flats:400-500 euro/sqmHouses: 500-800 euro/sqmOffice buildings:Class A: 500-750 euro/sqmClass B: 300-600 euro/sqmIndustrial or commercial warehouses:•Concrete structure: 400euro/sqm.•Steel structure: 380euro/sqm•Wooden structure: 300 euro/sqmBlocks of flats P 4 and higher built and under construction are aproximately 40 and were built in the las 5 years.The apartments can be bought already from project phase, with instalment paying. Apartments finalized can be bought with bank loans or with the builders payment programs.Aproximately 10 govermnet finaced blocks of flats were built (200 apartments). These apartments can be bought by young married couples or people with little financial capabilities.Best regards,IMOVIS Team

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