| MURANO APARTMENTS |
 Every now and then a development comes along that ticks literally all the boxes on a property investors checklist. This is the kind of development that immediately gives you that feeling deep down that is saying to you - ‘this is it!'. As you well know, these opportunities do not arise too often and that is precisely why Warsaw Properties have worked hard over the past few months in order to secure some excellent apartments in this wonderfully located development. Warsaw Properties are delighted to be associated with such a project as it will surely be one of the most exciting and talked about developments in the Polish capital throughout the coming years.An investor's search for the ideal destination for their hard-earned capital usually begins with the old mantra ‘ location, location, location'. Any investors abiding by this advice would surely end up outside ‘Murano Residence'. It is hard to imagine a better location for a city centre development as can be seen below: - 800m from Warsaw's UNESCO listed Old City - 400m from the nearest underground station - 300m from a regional train station - 1200m from Warsaw's city centre and central business district - 700m from one of Central Europe's newest and biggest shopping and entertainment centres  The development not only boasts one of the best locations in the city but one would be hard pushed to find a project which has better communication links as it lies on the metro line, and is serviced by 5 different tram lines and 7 bus lines. Just behind it one can also find a regional train station from which one can reach other cities around the country. It also accommodates those who don't wish to use public transport as there are places in the underground car-park for all apartments.The whole project is being developed by one of Poland's largest construction companies, Budimex. Budimex is floated on the Polish stock exchange and is owned by the Spanish giant, Ferrovial. They are renowned for quality, reliability and punctuality. The underlying theme throughout the whole project will be one of luxury and elegance. This will be the developer's flagship project and as a result will receive plenty of tender loving care ensuring a top quality finish and attention to detail. The development itself will consist of a variety of apartments ranging from small studios, a mix of 1 & 2 beds as well as large penthouses on the higher floors. There will also be a number of retail units available to buy on the ground floor and in the shopping plaza which will run under the building. A total of 260 apartments will be constructed in the first phase with a further two phases being constructed at later dates bring the number of apartments in the complex to 750.  Construction of the first phase will begin in May 2007 and it will be completed at the beginning of 2009, the later two phases will be handed over at the end of 2009 and the beginning of 2010. Specific apartment details and prices are available on request. Wonderful as it already may seem, we have indeed kept the best news until last - this developer has decided to move away from the traditional Polish system of paying for apartments in instalments and they now offer a 10/90 payment schedule. The beauty of this means that by putting down only 10% of the apartments value one can enjoy 2 years growth on the whole apartment value. For example: 1-bed apt - shell & parking @ 190,000 Euro: Deposit of 10% - 19,000 Euro Capital appreciation over 2 years @ 20% - 83,000 Euro on 190,000 Euro. Therefore on a deposit of 19,000 Euro one can expect a return in the region of 436% over 2 years. This payment structure means that bank financing can be avoided during the whole construction period and one can enjoy the comfort of just one payment of 90% on completion.  Capital appreciation in Warsaw has been at the level of 20% - 30% per annum for the past 2/3 years and all signs are that it is set to continue at this pace for the following few years. There are a number of different factors contributing to this growth such as: - Labour shortages ( all construction workers are in Ireland and the UK! ) - Shortage of development land due to lack of spatial development plan in Warsaw - Increased availability of mortgages on local Polish market - Massive stock of poor quality residential units that need replacing - Warsaw is growing by about 100,000 new inhabitants per annum - Local demand for better quality of life There is no immediate solution to any of the above so growth is set to continue in Warsaw for the foreseeable future.Rental yields in the city are working out at about 3% net annually after all deductions. Warsaw Properties commission represents 3% of the total purchase price. We will have a limited number of apartments available due to the demand on the local market so in order to a secure an apartment in this development it is important to register interest quite quickly. TIP!: The site directly behind this development is of a similar size and was bought by a large Spanish developer in December 2006. They paid 3 times more for that site than Budimex paid for this site and as a result have no choice but to start selling at c. 21,000pln per m2. This is 30% more per m2 than Budimex are offering ‘Murano Apartments'. This is concrete proof of the potential for growth in this development.  Download folderFor further information, pricelists and floorplans please don't hesitate to contact us at Warsaw Properties by filling in the form below - |
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