I have 3 units (1 bedroom) in greenfield that I fully furnished for about 5000 eur/each and there are all rented at 650 eur/moth. Even if the quality of the project was quite poor, I believe the area has great potential (City is developing to the north and all business centers and commercials are also in this area). I didn't had to ask for mortgage but if you are able to complete, I don't see the point of just running away.
Pablix

Thank you for the info Hangman. I thought it was too good to be true. They were very tightlipped about the meeting on the phone and would only say that each 'appointment' would be for one hour with one of the 'directors' being present.

Will have to go along anyway just in case.

The whole thing has been a complete nightmare and I am stressed to the eyeballs with it.

Has anyone else received an email from Impact today with photos of the development? They claim to have sold 25 appartments in February alone and reserved 10. This claim runs contrary to what we have been hearing from the estate agents about the stagnation of the sales market in recent months, any thoughts?

I have recieved the same email from the developer today. I think it is to good to be true. It has been the same thing from the start from the selling agent and the developer, lots of false claims and empty promises.
I would think at this stage they are getting worried about their financial situation with no sales and alot of people not being able to complete on properties (money they tought was in the bank)
In the photos they dont show the newest development completed, BLUE, the one i have purchased in.
They are only showing appartments that have been completed ages ago so is not a true picture anyway.

Hi, I have an apartment in Onix and is lovely! I have received some pics from my agent, which I am happy to post on the forum. I have been to Greenfields a month ago and I was pleasently surprised! I would love to live there myself. Starbucks just around the corner! It is full of yuppies, in which case maybe letting it wouldn't be a problem. Despite what I am reading on the forum, I still think I made a good decision buying in Greenfield. Location is essential in any market! Let's hope for the best!

I guess they are still selling because they are local developers and the Romanians know them. On my inspection trip, I have seen the developments they used to build, only villas for the rich! Let's not forget that the area is quite an affluent one; there are rich Romanians who can afford buying there! Romania is a huge country and Bucharest is the main economic center. " 25 apartments in a month, in a completed development of that scale, sounds reasonable... Has anyone else been out there recently?

The rental of EURO 650 per month for a 1 bedroom apartment inthe Greenfield development sounds very good - did you use an agent to arrange these?

I have been told that monthly rent for a 1 bedroom in the rose garden project would EUR 550, much lower than what you have acheived and much lower than what I thought I would be able to achieve.

If you could provide information on how you went about arranging that would be great.

Thanks

To "the wonderer"
Do you happen to work for "the agent" or the developer by any chance?
My appartment in BLUE was due to be finished in December 08, the appartment blocks themselves are finished and the developer managed to get the permission of usuage in January.
I got my lawyer to visit the site at the end of January and take some photos for me.
The blocks were fine, but you would have to wear a pair of wellies to get into them as was still a building site outside at that stage.
The place was covered in muck and no sign of any chance of being able to move in and no landscaping at all was done.
The Romanian people are in a harder position to buy these appartments and if the developer is able to sell so many to them to romanians then he has to be doing so at greatly reduced prices than anyone here bought them for.
Considering some people who bought them as investments are now trying to sell them at less than they paid for them just to get some of their deposit back.....why will the Romanians not buy these ones?
I havent heard of anyone been able to resell yet.
I would be happy to sell my appartment for 20,000 euros less at this stage to get some of my 43,000 euro deposit back!

Hi Rikk, My apartment is in Onix and I am happy with it! The landscaping has been done, so I have no reason to complain. I guess I am quite lucky to have a Romanian girlfriend:) She is a journalist and keeps an eye out for me! On a different note, I see no reason why you should get offensive. I thought that the info I had could help, but clearly is just a waste of my time. Indeed, it can be very frustrating when you hit a brick wall, and believe me, I have gone through that in Bulgaria, but I don't get nasty with people on forums!! Ollie

To "AP"

I've been working now for about 2 years with Grupo FDP and they provide me with all services that I need to manage my investments there. We have now became also good friends (the owner is Spanish as me) and I'm very happy to recommend their services as everyone I know have been very happy with them.

As I mentioned, 650 eur/month was achievable for 1 bedroom fully furnished and with a parking space in Greenfields but I've recently read in many places that reants are also getting strongly affected (check at Herald Bucharest).

Good luck,

Pablix