Asmita sells EUR 3 mln of housing in first half of the year, offers apartments for rent

Real estate developer Asmita and investment fund European Development Convergence Company (ECDC), owners of the 765-apartment complex Asmita Gardens in Bucharest have sold EUR 3 million of housing in the complex in the first quarter of the year. 24 new families thus moved in their Asmita Gardens homes, the companies have said. The developer has come up with a rental plan hoping to attract more buyers into the project. It currently offers the possibility to rent an apartment for two years and buy it afterwards. The monthly rent is of EUR 600 for two-roomed apartments, while for the three-roomed apartments it is of EUR 800 a month plus VAT. The remainder of the amount – the final apartment price minus the rent paid during these two years – will be paid at the end of the rental period. The 765-apartment project, owned by Indian Asmita and investment fund ECDC was completely finalized in March this year. The project, worth around EUR 120 million, is made of seven high rise blocks on the Dambovita quay in Bucharest. At the beginning of the year, the developers had sold more than half of the apartments, according to media reports. romania-insider.com