Land Timisoara

by Darius Georgiu

The land has a surface of 27.741 square meters and it is situated on the south side of Timisoara city. It has a 130 m street front to a large residential area and has access to a main avenue. The distance to a future commercial center is 500 m.The property has all utilities available, including high power electricity and high debit gas. Juridical, the land is a private property. At the moment, on its surface there are industrial halls, which are rented for a total rent of about 60.000 euro/month. The owner is obliged to demolish the halls with minimal expense.The height level will be set by PUD, but it is necessary to change the profile, from industrial to residential through PUZ, the height level is expected to be about ground floor 5 levels attic. The development of this area, from an economic and urbanity point of view, takes part in the development project of Timisoara city. In this context, the urbanity plan of Timisoara has the purpose to extend the residential area and the industrial areas will be placed outside the city or in a new industrial zone.Price: 450 euro/square meter toal sum of 12.483.450 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/sqm Periphery: 800 – 1000 euro/sqm New block of flats, built since 2000 Center: 1200– 1400 euro/sqm Periphery:1000 – 1200euro/sqm HousesCenter: 2000– 3500euro/sqm Periphery: 1500 – 2000euro/sqm Old Historical buildings:Center: 1500– 2500euro/sqm Periphery: 800 – 1300 euro/sqm Land 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/sqm Periphery:250– 500 euro/sqm Depending 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/sqm Class B: 8 – 12 euro/sqm Apartment 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/sqm Periphery:300 – 600 euro/sqm WarehousesThe 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/sqm without any utilities 30 euro/sqmBuilding pricesBlocks of flats:400-500 euro/sqm Houses: 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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