Historical villa downtown Bucharest sold for EUR 4 mln

A historical villa located downtown Bucharest was sold for over EUR 4 million, according to a statement of real estate consultancy firm DTZ Echinox, which brokered the transaction. The villa was built in 1930 and completely restored in 2000. It has a total built surface of 2,200 sqm, while the adjacent land covers an area of 1,000 sqm. “This was not a typical transaction. The client was impressed by the property and bought it in record time. Usually, the bidding and selection process for the purchase of luxury properties is lengthy and formal, sometimes lasting two or three years,” said Raluca Plavita, senior consultant for DTZ. In the first three quarters of this year, DTZ Echinox brokered deals worth over EUR 8 million on the luxury residential segment, double compared to the same period of 2013. The most active customers on this segment were the local investors, who opted for villas and apartments in new buildings located in Northern Bucharest. The budgets for such properties start at EUR 250,000 and can go up to several millions of euros for villas in exclusive locations. Irina Popescu, irina.popescu@romania-insider.com