No matter if we look into the trendy and upscale Northern areas of the city, the cheaper Southern parts or the city centre, Bucharest’s residential market is a booming and interesting sector. Where are the best places to buy an apartment in Bucharest? This is a question many have formulated, and the answer is certainly not a simple one.
The choice depends on many factors. So, before you make up your mind about this important purchase, here are a few questions you should try to answer:
Are you buying an apartment in Bucharest as an investment?
If you are looking into an investment opportunity, you should think about the categories of renters you might get. A good segment to target are the expats and foreign students as Bucharest is increasingly popular with foreign companies as well as with students who come to study here. In such a case, the city centre is a great choice, from Piata Unirii and Piata Victoriei to Piata Alba Iulia and even the Cotroceni neighbourhood as the University of Medicine is located there.
Are you buying an apartment to live in?
If you are planning to buy an apartment to live in, there are several factors to consider as well. Besides your space needs, you might think about your lifestyle and various other needs such as ease of transportation for your daily commute to work, importance to have a park, schools or a good shopping centre in the close proximity of your home, etc.
Are you a family with kids, a couple or a single?
You might want you look into the schools of the neighbourhood if you have a family with kids. Having a good public transportation network is another important criteria to consider if you are using public means of transport to commute to work. For instance, Tineretului area is a good place to buy an apartment in Bucharest because it is served by the underground, while those who want to live in a green neighbourhood and have nice parks nearby might want to look into Drumul Taberei and Titan. The premium segment will orient themselves towards Herastrau area or other neighbourhoods in the North of Bucharest.
Are you buying a luxury apartment or a standard one?
Luxury apartments have a different market than the standard ones. The premium segment is focused around a few areas: the city centre, the Herastrau area, the Cotroceni, Dorobanti, Aviatorilor and Baneasa neighbourhoods.
The city centre appeals to those who want to enjoy Bucharest’s nightlife and cultural events. Those who want to be in the middle of it all will go towards places like Piata Universitatii, Piata Unirii, Piata Alba Iulia. Prospective home owners who want to enjoy the proximity of the city centre and the quite of a residential neighbourhood will pick Cotroceni as the place to settle.
The Northern area of the city is a popular place to buy an apartment for families of expats as well as the locals with a good social and financial status. The proximity to business parks, exclusive schools, trendy shopping centres are just some of the factors orienting home buyers towards these areas. Another important aspect is that the reduced level of pollution of the Northern side of the city. If you travel abroad on a regular basis, you might also appreciate the proximity to Bucharest’s airports.
Are you buying a new apartment from the developer or an old one?
Apartments in new residential complexes seem to have a certain appeal for buyers and this is not without a reason. Those apartments need less maintenance in the first years, while an old one might need a lot of investments in infrastructure. New apartments in the central neighbourhoods tend to be more expensive than the old ones in the same areas. However, you might find that the new residential complexes located slightly further from the centre offer a good price quality ratio.
So, what is the best place to buy an apartment in Bucharest?
As you can see, the answer is far from being simple. It is all about your purpose, needs and lifestyle. Whether this is about an investment plan or about buying your dream home, this is an important decision. So, think ahead and do your homework in order to make an informed decision.