House Hunting in … Romania


This three-bedroom villa is on the southern shore of Lake Snagov, a well-liked weekend retreat about 20 miles north of Bucharest, the capital and business middle of Romania.

The property is three quarters of an acre and features a two-bedroom, 860-square-foot loft above the storage; a free-standing, 250-square-foot studio unit; and a protracted picket dock, boat storage and pontoon for enjoyable on the lake.

The three,500-square-foot principal home, accomplished in 2009, was constructed with strengthened concrete and brick, with an orange ceramic roof and a white facade. The entrance door opens to a lobby, with a small bed room instantly to the left. Straight forward is a bigger inside corridor with a winding staircase, built-in bookcases and a double-height ceiling. Continuing by way of that second corridor, a broad doorway results in the lounge, which has a whimsically designed hearth with firewood storage constructed into the wall.

Inspiration for the house’s inside décor got here from the sellers’ time in dwelling in the United States, mentioned Dana Barbu, an agent with the Bucharest-based actual property firm Regatta, which has the itemizing.

“They are quite cosmopolitan, and they’ve lived in several countries,” Ms. Barbu mentioned. “Now they live in France. They were inspired by the Hamptons, Long Island and British beach cottages.”

A examine with built-in bookshelves adjoins the lounge. The mixed eating space and kitchen is on the proper facet of the home. The kitchen has high-end home equipment, a butcher-block island and a subway-tile backsplash.

In the rear of the home is a big sunroom with vaulted ceilings and glass doorways that open to a two-level wooden terrace overlooking the yard and Lake Snagov.

Up an oak staircase are two massive en suite bedrooms with vaulted, beamed ceilings, wide-plank flooring and balconies. The master suite is about 430 sq. ft, awash in cool grays and whites, with stained pine flooring, a chandelier and a fireplace seating space. The grasp lavatory has a soaking tub, stand-alone glass bathe and a glass door resulting in a balcony. The second bed room, break up into two sections, serves as a sleeping and play space for youngsters.

Snagov, which has a inhabitants of round 7,00zero, is a leisure vacation spot for tourists and Bucharest residents alike. It sits between Bucharest and the ski and mountain destinations farther north, making it a convenient base for ventures in both directions, Ms. Barbu said. It is popular with water-sports enthusiasts, thanks to the lake, which is not wide but stretches about seven miles in length. Snagov Club, a four-minute drive from the property, has a hotel, several restaurants, kayak and bike rentals, and a pool and spa. Henri Coanda International Airport, just north of Bucharest, is about 20 minutes away.

In Bucharest, apartment prices in the fourth quarter of 2018 averaged around 1,300 euros a square meter (about $137 a square foot), according to the report. (Property transactions are often done in euros, rather than the Romanian leu, although Romania hasn’t officially adopted the euro yet; the country joined the European Union in 2007 and is expected to adopt the euro in about 2024.)

Mr. Galvin pointed to a “steady trend” of wealthier Romanian expatriates “buying investment rental property in most major cities due to the unusually high return on investment,” which he said is around 6 to 7 percent annually.

Bucharest’s priciest homes are in the city center, the city’s northern neighborhoods and the northern suburbs, agents said, with apartments in the affluent Herastrau section averaging about 2,560 euros a square meter ($269 a square foot).

Prices of luxury properties in and around the city range from 150,000 euros ($170,00) for a one-bedroom to more than 2 million euros ($2.3 million) for a penthouse or villa, said Alexandru Ispir, owner of the Bucharest agency Otho Estate. Mr. Uzunov put the range for luxury apartments at 200,000 euros ($226,000) to 3 million euros ($3.4 million), adding that luxury houses can fetch up to 15 million euros ($17 million). But for 900,000 euros ($1.02 million), you can buy a four-bedroom penthouse with a shared pool in Bucharest’s most sought-after northern neighborhoods, Mr. Galvin said.

Bucharest offers value compared to other Eastern European capitals, agents said, with prices per square meter approximately half those in Budapest and Belgrade, Serbia.

The area near the historic city center is popular with foreign investors, who often buy older buildings and convert them into hotels and rentals, Mr. Ispir said. In 2018, 15 to 20 percent of his agency’s buyers were foreign — mostly from France, Spain and Sweden — and fewer than 5 percent of them were buying for personal use, he said.

Mr. Uzunov said his agency’s foreign buyers in 2018 primarily came from France, Holland, Greece and Israel.



Source link Nytimes.com

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