Property Information
THE APARTMENTS
The Fontana Residence will consist of 65 apartments spread over 5 floors, including the ground floor. The apartments vary in size, are 1 or 2 bedrooms and all have 1 bathroom. 40 apartments have allocated underground parking each with a hydraulic lift and a storage room. The other 25 apartments will have allocated exterior parking. It will be a gated community with a security guard post and key code entry.
The apartments will be designed to western standards with quality finishings and a fitted bathroom and kitchen, which are not standard in Romania. Properties in Romania are normally sold without any fixtures or fittings.
Set within beautiful natural gardens with cherry trees, wild roses, waterfalls and a BBQ area, the Fontana Residence is in a conservation area and backs onto the Hoia-Baciu Forest National Park, and is close to the river Somesul that runs through Cluj.
All apartments have breathtaking unrestricted views of the valley thanks to building regulations in the area.
The project not only has a strategic location, but is also set within beautiful surroundings. It is conveniently situated around 300 metres from the newly opened Polus Center, which is within walking distance.
The development is also in close proximity to the new main road - the E60 - which joins the E576 and gives direct access to the international airport only 12km away and to the new Nokia plant.
WHY THE FONTANA RESIDENCE?
* Investment opportunity in one of Europe’s healthiest economies and in a region that is a magnet for foreign direct investment.
* Highly competitive prices when compared with other popular Eastern European locations.
* Based upon an initial 20% value uplift on completion, a capital growth estimate of 15% per annum and including a 70% mortgage, an investor would earn an estimated return on investment of 242% over a 5 year period.
* This investment opportunity includes an estimated rental yield of approximately 5,5% per annum.
* Garden city location – surrounded by beautiful countryside yet with easy access to all the facilities of a thriving city and good transport connections.
* High demand for good quality western style housing, particularly by growing numbers of highly qualified professionals in the Cluj-Napoca area.
* Good resale demand from the domestic market; Romanians like to see, feel and touch a property before they buy.
* Good rental demand from its 100.000 students and temporary workers in the city.
* Romanians are relocating from Bucharest to Cluj for a better quality of life, facilitated by the creation of 20.000 jobs at the Tetron 3 Platform.
* The Cluj-Napoca area is currently the focus of an enormous amount of foreign investment from a number of prestigious international companies. The mobile phone company, Nokia, has already invested €200 million and the US company Emerson, plans to invest €125 million in 5 new plants in Cluj.