An accurate evaluation for financial security
Real estate

Seaside Valuations – Part I

Posted by
Daniel Dima

Ever since I started going on vacations on my own I went every year to the sea in the same place: MAMAIA.

At first I went of course to the area of the old hotels in the resort because there were no other options. Then we advanced to the North Zone.

With the opening in 2006 of the Highway of the Sun on the Bucharest – Fetesti segment I noticed an increase in traffic to the Romanian coast. Subsequently, since 2012, when p the highway was completed upto Constanta, the access of tourists from Bucharest and the nearby towns to the Romanian Coast was facilitated and weekend tourism greatly increased.

If between 2000 and 2006 there was nothing but the area of the holtels inherited from the communist period and the beautiful wild beaches Vadu and Corbu, slowly the area Mamaia Nord – the star of tpday began to develop

In 2012-2014, in the area of Mamaia Nord there were 1-2 new hotels rising between numerous bushes and undeveloped areas, then some well-equipped villas with very good quality services among others, that offered medium quality services, but all this at a certain distance from the sea.

In the last 3-4 years there has been an explosion of constructions in the area of Mamaia Nord, with a growing spread towards Navodari: from Summerland to the old Camp. Many blocks were built both in the Promenade and the DC86 area, as well as between DC86 and the canal. As a height regime we meet blocks with 5 to 10 floors in the area bounded by the sea and boulevard, where are the most sought after apartments for the view offered, and on the side between the boulevard and the canal the blocks do not exceed the height of 5-6 floors.

The apartments have areas between 40 – 60 sqm for the 1 bedroom appartments, and some of the 2 bedrooms apartments and those with more bedrooms exceeding 100 sqm, the finishes being in most cases of superior quality. As partitioning, most of them have open space kitchens, large rooms, those on the upper floors are designed with generous terraces. Another tendency of developers is to offer withn the housing complexes also private pools that all residents can enjoy.

For land in Mamaia Nord the offers for sale are between 300 euro/sqm and 800 euro/sqm, the price being influenced by the positioning, the area, the opening but also by the urban indicators in the area.

The number of constructions has greatly increased from a few hundred to over 1000 housing units prepared for sale annually.

The price of the apartments varies depending on the zone, their area and facility offered by the developer, being between 1250 euro/sqm in the area between the boulevard and the canal, reaching and even exceeding 2000 euro/sqm in the clubs area and in the front line blocks with direct sea view, the trend being one of growth.

The level of services offered in the Mamaia Nord area has increased in the last period reported on demand and the prices paid for services in this area.

The experience of the Covid19 crisis indicates that more and more families will opt to rent a seaside apartment in newly built blocks/villas for the 2020 season despite standard hotel reservations specific to previous years.  

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