A new concept on the Romanian real estate market: the accessible residential boutique

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LA GLOIRE Romanian real estate developer starts preparations for his second residential boutique project near Bucharest as of next month. The first such project developed by LA GLOIRE was the Pipera Vlad Tepes, counting on luxury housing for accessible prices.

The second such residential boutique project to kick off in July is the Residential Complex Parc du LAC – Baneasa – Pipera – La GLOIRE.

The residential complex is located in Baneasa/Pipera area, on the shore of Valea Saulei lake. It will comprise 47 apartments of two and four rooms, served by wide patios and underground parking. The green space represents over 60% of the ensemble’s total area. The patios’ area will range from 15sqm to 100sqm.

The completion time frame is October 2019. The prices range from EUR 79,999 plus VAT up to EUR 177,999 plus VAT.

The investment of the first residential boutique project, Pipera Vlad Tepes, has mounted to EUR 2.5 million. The residential ensemble comprises 31 apartments (17 two-room apartments, 13 three-room apartments and one four-room apartment), served by private gardens, patios and underground parking. All apartments have been sold in the first five months since they have been put up for sale.

The residential boutique is a niche that we have pinpointed against a polarised market. On one hand, there are the developments considered as cheap, with small apartments, lacking any kind of design or the tall, identity free buildings resembling the communist blocks of flats. And on the other hand, there are premium, extremely expensive, almost inaccessible projects. The residential boutique concept is accessible for the strongly informed customers, who are paying attention to all details,” said Andrei Iușut, the owner of La GLOIRE.

Andrei Iușut is a Romanian entrepreneur, known for his family business Divan Group, comprising the Divan brands, the fast food network Divan Express and Meze Taverna and Kuzina restaurants in Bucharest. He sold all operations in early 2017.

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