Latest City Garden News
Jul 18, 2023
The luxury real estate segment in the north of the capital – the Pipera area is consolidating as a pole of attraction for foreign investors and buyers, thanks to an ideal mix of benefits. Advantages include a competitive price compared to other European capitals and easy access to facilities such as top international schools in Bucharest. An analysis carried out by City Garden Residence, the developer of the Bonton Luxury Villas project in Pipera, shows that 80% of first-phase buyers are foreigners, while only 20% are Romanians. Also, the share of end buyers versus investors is 70% – 30%. Bucharest is among the European capitals with the most competitive housing prices, which is a major advantage for foreign investors looking to purchase such properties in a growing city. Also, the return on investment and the potential for property value appreciation over time are other important reasons for foreign investors to consider buying luxury real estate in the north of the capital. In this context, the developer City Garden Residence has sold most of the first 36 villas of the Bonton Luxury Villas project to foreign buyers. They bought the homes at prices starting at €400,000 + VAT, which means a price per usable square meter of around €1.365, lower than in other European capitals. The villas of the complex have floor areas between 293 – 327 sqm and benefit from up to 7 spacious rooms, 2 or 3 terraces, private garden and premium finishes. Around a third of buyers have opted for the interior elevator, an exclusive feature that the developer provides. Read more about Given an average rent in the area of between €3,000 and €4,000 and an additional budget for fit-out, investors can benefit from an annual return of around 8%, which is above the market average. “The luxury real estate market in the capital has seen a significant development in recent years, driven by increasing demand, diversification of projects and returns. The market is attractive to foreign buyers, as house prices have not yet caught up with other European capitals and are much more affordable. They understood that it is the right time to invest, as there will be no downturn in the coming period, contrary to the expectations of Romanians. Building material prices have increased by more than 50% since the start of construction, which will lead to an increase in second phase house prices,” said Andrei Cantaragiu, CEO of City Garden Residence. In addition to the low cost, Pipera’s various facilities contribute to its attractiveness, especially its proximity to international schools. This advantage is a priority for many expats moving with their families to the capital. The Bonton Luxury Villas project is located just 200 meters from the American School, with other prestigious schools nearby, such as the British School of Bucharest, Olga Gudynn International School or Maarif Schools of Bucharest. The project is also located in the vicinity of Băneasa Forest and is well connected to the city’s points of interest, such as the Pipera, Voluntari and Aurel Vlaicu office areas, shopping centres, the city centre and the airport. The Bonton Luxury Villas residential complex consists of 66 luxury villas with modern amenities and integrated facilities – private club with swimming pool and gym. The project is currently in the second phase of development, comprising 30 villas, being in the finishing stage. The deadline for completion of the construction work is scheduled for this year, with the interior finishes to be completed in 2024. The total investment in the project is more than €19 million. The price of a villa in the second phase of the project starts at €449,000 + VAT.
City Garden Frequently Asked Questions (FAQ)
When was City Garden founded?
City Garden was founded in 2008.
Where is City Garden's headquarters?
City Garden's headquarters is located at 59 Ngo Tat To Street, Ward 21, Binh Thanh District, Ho Chi Minh City.
Who are City Garden's competitors?
Competitors of City Garden include Infoplus and 4 more.
Compare City Garden to Competitors
Masterise Homes is a real estate development company that specializes in the development, operation, and management of real estate products and services in Vietnam. The company was founded in 2019 and is based in Ho Chi Minh City, Vietnam.
EI Industrial is an online B2B platform offering industrial products, including LED lights, factory equipment, electrical equipment, chemistry, hand tools, labor protection, automation equipment, and spare parts. It is based in Ho Chi Minh City, Vietnam.
Infoplus offers an automated banking platform. It offers cash management software, accounting software, apartment management software, financial banking service solutions, and system solutions. The company was founded in 2018 and is based in Hanoi, Vietnam.
VIJASES provides optimal solutions with modern technologies suitable for customers. It provides solutions such as electronic circuit design and simulation, electronic warfare systems, electrochemical analysis, nanotechnology and materials, and more. It was founded in 2012 and is based in Hanoi City, Vietnam.
beBit TECH is a software development company. The company's software provides real-time analytics, a workflow engine, a process engine, a built-in notification system, GPS real-time check-in and check-out, and an embedded workflow dashboard, enabling the manufacturing, biotechnology, financial insurance, and service industries to automate their business processes. It was founded in 2022 and is based in Taipei City, Taiwan.
ToBeWAY Co provides professional solutions and services for enterprise data management. It provides data collection and analysis tools that turn raw data into reliable insights. It allows users to visualize their data and gain valuable insights into the direction business is headed. It offers master data management, metadata management, data management, data integration, gradient data standardization, and more. It was founded in 2001 and is based in Gyeonggi, South Korea.