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corinacimbala
Joined 2013
Posts: 3

10 years ago

Relocating to Bucharest? Here is some information about the price of rent in the most sought-after residential area

10 years ago

During the past years, the Pipera-Tunari area has become a place of interest, both for businesses and for people wanting to live in an exclusive neighborhood. Even at the peak of the financial crisis, the number of developing projects has increased, and the rent prices of apartments in the area haven’t decreased, like in other parts of Bucharest. According to a study conducted by the Palace Estate Company, renting an apartment in the Pipera-Tunari area is an efficient solution for those who don’t want to buy property, but who still want to enjoy the comfort and facilities the area has to offer.
The rent prices of 2, 3 and 4-room apartments in the Pipera-Tunari residential area aren’t very different from those of the apartments situated in the center of Bucharest. Prices vary between 4.4 and 8.7 euros/sqm, depending on the location of the apartment and the utilities it has. The lowest rent doesn’t go under 650 euros, but the future tenants will enjoy all the luxury their 100 sqm rented home has to offer. The difference between the cheapest and the most expensive apartments is made by the facilities available. For instance, an apartment with access to a garden, parking spots, situated near a shopping center will cost more than one that doesn’t have these facilities.
“The dynamic character of real estate transactions hasn’t changed in the Pipera area, even in the last years, in spite of the decline of the market. Renting an apartment is a solution that comes in handy for corporate employees, who don’t want to commute to various parts of the Capital. For them, the main advantage of the area is that they can be close to work. At the same time, they can take advantage of facilities that improve their lives, such as private clinics, shopping centers, prestigious schools and kindergartens, or restaurants. For a rent similar to those from Piata Unirii, someone who rents an apartment in Pipera will have access to gardens, playgrounds and almost double the amount of habitable space”, Yaniv Dahan, Palace Estate CEO & Founder, has stated.
According to the same study, the profile of the Pipera tenant is that of a young man, 30-45 years-old, working on a middle management position in a multinational company, married, with at least 1 child. The main reasons leading to his choice of the Pipera area are the proximity to both his place of work and educational centers for children.
Over 35% of rent transactions in the area are made by companies for expats or employees involved in short and medium-term projects.
The data was provided by Palace Estate, real estate company that specializes in relocating expats in Romania.

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