• First new residential development in the city of Baia Mare
• Average price per square metre of €630/£470 – 10% below market value. This is on average €7,395/£5,518 per unit
• Developer discount of 8% on Property Secrets units. This is an average discount per unit of €5,705/£4,257
• Payment terms for Autumn Residence are 15/85 which are excellent payment terms in the current market
• Small development of just 72 units so local demand will be high. 10-minutes drive to city centre

Autumn Residence is a fantastic opportunity to enter a new market in Romania at the bottom of a growth curve and achieve maximum capital growth as well as excellent returns from the 8% developers discount.

This is the first time we have offered an investment opportunity in the city of Baia Mare and we have secured units in the first greenfield residential development in the city.

Property Secrets has negotiated excellent prices of €630/£470 per square metre with an 8% discount from the developer. Our units have also been valued at 10% below market value according to the independent valuation. Along with great potential for capital growth there should also be excellent rental demand for these units.

Due to complete in December 2008, this will be the only new development on the market and with just 72 units in the entire development we believe this will attract huge resale and rental demand from the local market. This is the first apartment block development targetting the middle class since the revolution in 1989.

The development is located on the main route from the airport into the city centre.

It is three kilometres from the city centre, a five-minute drive from a major retail development currently construction and a 10-minute drive to an industrial park. Buses run past the development and journey time to the city centre is just 10 minutes. The area around the development is characterised by low density one-off houses and neighbours the expensive villa district.

This is a desirable residential area of the city, yet close to the city centre and local amenities. Further endorsement of the area is the fact that the developer lives in the vicinity of the development himself!

Baia Mare is one of the largest cities in Romania. Located in the north of Romania it is just 200 kilometres from the Ukrainian border and 142 kilometres from Cluj-Napoca. It is a significant city in the north-west of Romania in terms of commerce, trading, culture and in its proximity to the Hungarian and Ukrainian border. We believe the city will benefit from some of the investment we have seen pouring into cities such as Cluj-Napoca. As these markets develop and start attracting higher-end industries, manufacturing companies start looking to emerging cities such as Baia Mare to set up business in and there is already evidence of this happening in the city.

Baia Mare has a population of approx 150,000 people but has a catchment area of 400,000 within half an hour’s drive from the city. As a result it is currently attracting increased commercial and retail development. Two major retail developments with a combined value of €165 million were recently announced for the city.

This is an indication of the strong demand for shopping centres in the city and the potential spending power of the locals. Baia Mare is the main commercial centre in Northern Romania and a gateway city to Ukraine. The city has its own airport and is situated in one of the most outstanding areas of natural beauty in Romania.

An investment in the first new residential development of only 72 units in a city attracting increased investment offers an excellent opportunity for property investors who will be entering the market first and therefore right at the bottom of the growth curve which should maximise returns. The price per square metre at €630/£470 is very low for a booming Romanian market.

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