16m euro housing project

A new residential complex will be built in the outskirts of the Bragadiru commune (southwest of Bucharest) in two years. Erecting the 250 homes will take 16 million euros, as explained by Nicolae Haliu, the owner of the land and originator of the project. The homes will be built under the housing loan system, and the complex, named Mihai Eminescu, will comprise ten types of two-story homes, 130 to 300 sqm wide. Each house will be built on its own 450 sqm plot. The land allotted for this complex is 16 ha wide. The price of the homes will be 385 euro/sqm, which includes the house, the matching piece of land, the cost of connecting the land to the utility supplying network and VAT, as explained by Haliu. “The price of a house is 285 euros/sqm, but there are also the costs of connecting the land to the utility supplying network – 10,000 euros/plot,” Haliu said. In addition, the buyers can have their home customised, which takes price even further. Haliu said the price of the homes in the Mihai Eminescu complex might range between 45,000 and 100,000 euros. The homes can be bought through a 15-20 year housing loan on the terms of the banks that participate in the project. ZF