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21-August-2008
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Fontana Residence: Property Investment
Europe's Most Robust Market
The Fontana Residence is a rare investment opportunity in one of Europe's most robust emerging markets - Romania. Investment in this development offers investors the opportunity of early entry into Romania's emerging north west region, giving them the chance to earn maximum returns on their investment.
This investment is suitable for a longer term strategy; based upon a capital growth forecast of 15% per annum, a 20% value uplift on completion and including a 70% mortgage, an investor would earn an estimated return on investment of 242% over a 5 year period with an estimated rental yield of approximately 5.5% per annum.
Strategic Location
The Fontana Residence will occupy a strategic location in a beautiful setting, enjoying both the benefits of the thriving city of Cluj-Napoca and the natural beauty of the surrounding countryside.
The development also benefits from easy access to the newly-opened Polus Center - just 300 metres away and within walking distance - and the main E60 road, giving direct access to the new Nokia plant and the international airport - only 12km away. The project backs onto the Hoia-Baciu Forest National Park, which is home to the breathtaking Lake Tarnita and is close to the River Someşul that runs through Cluj.
Comparative Pricing
The Fontana Residence is a unique development. It is one of a few select projects built to western standards and prices compare favourably with other developments in the region, which are usually sold without any fixtures and fittings. It is one of the first modern developments in an area where the population is expected to double over the next 10 years, thanks to extensive foreign investment creating more jobs, particularly in the I.T. sector. There is currently a limited supply of high quality properties in Cluj with the style of apartments and location of the Fontana Residence much sought after by young, local professionals.
High Profile Area
The city of Cluj-Napoca is becoming a magnet for foreign direct investment, attracting some high profile investors. The mobile phone company, Nokia, has already invested €200 million in the city and has ambitious plans for an industrial village, which will mean further investment. The Austrian company, Immoeast, has invested €210 million in the Polus Center, close to the Fontana Residence apartments, where a large proportion of the commercial units are occupied by international brands such as Debenhams, Marks and Spencer, Zara and Mango.
Exit Strategy
Romania is currently experiencing high demand for housing with estimates of between 3 and 5 years before supply meets current demand, which is expected to continue to grow. In Cluj-Napoca, where there are 100,000 students and thousands of migrant workers arriving to take on jobs created by foreign investment, domestic demand for good quality housing is high.
Click here for the 5 year hold investment scenario.
Click here for the 5 year mortgaging investment scenario.
Click here for the 2 year hold investment scenario.
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