EUR 45 M investment in restoration plan of the Neptun Olimp area

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Certion Property Developers plans to develop premium residential projects in the Neptun-Olimp seaside area, whose total investment exceeds 45 million euros, over a period of 4 years. According to studies conducted by Certion, the Neptun-Olimp resort has the greatest potential to become the hardcore of the much desired restoration of the Romanian Black Sea coast.

At the moment, there are far too few 4- and 5-star accommodation units on the Romanian sea coast, concentrated in crowded areas that address a small segment of customers and interesting only for limited periods, not for the whole year. Studies also show that the global trend of buying holiday homes is also significantly found in the Romanian public, which is increasingly opting for investments in holiday properties.

The Certion study (conducted by MIA Marketing) shows a level of attractiveness of 68% of the Neptun Olimp area, this being especially appreciated because it is quiet and less crowded (88%) suitable for the whole year (80%), for longer holidays (88%) and for families (79%). The other researched areas, Mamaia Năvodari and Vama Veche, respectively, are perceived as overcrowded (87%), too expensive (87%) and with services that leave much to be desired, in the case of Mamaia Năvodari, and Vama Veche is considered rather for the weekend, (57%), dirty (50%), chaotically developed (34%). 

Following the study, the main characteristics that Romanians have in mind for the purchase of a house by the sea were outlined. Three quarters of respondents prefer a 2-room apartment (average area: 62sqm), with terrace / balcony (9.3sqm).

Respondents want to be located near the beach, surrounded by greenery and having access to facilities such as supermarkets, restaurants, pharmacies, but also Wi-Fi Internet, and among the most important services are cleaning the access roads, maintenance of green spaces, administration and security services. The quiet area, with lots of greenery and low population density are the main advantages of having an apartment in Neptun-Olimp resort.

Besides, Neptun-Olimp resort is also appreciated for its reasonable prices. The estimated time of use of the holiday apartment by the sea mainly covers the summer season (80% less than 3 months per year, on average 7 times / year), and half of the respondents have the availability to rent the holiday apartment. As for how to purchase, 60% are thinking of buying it on credit (bank or developer). The timing of the decision to buy a house by the sea was strongly driven by the pandemic, with over 51% of respondents considering buying an apartment by the sea in the last year.

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