News Article apartments Bucharest Cloud 9 Residence Romania
by Property Forum | Residential

Akcent Development’s Cloud 9 residential project in northern Bucharest reached 700 units sold by the end of August out of 820 apartments available in the complex. 

The company said that 102 apartments with a total value of over €10.5 million + VAT have been transacted between June and August 2021. 

Laurenţiu Afrasine, CEO Akcent Development, said: “We are pleased to see that we have reached and even exceeded our goals set at the beginning of the year in terms of sales at Cloud 9, which reconfirms the quality of our project in an extremely competitive market. This determines us to continue with even more determination the process of pre-development of our projects in the northern part of the Capital City, being convinced of both the sustainability of the residential demand and the attractiveness of our projects.” 

In the past months, the company has seen more purchase requests for residential purposes, while the acquisitions made for investment purposes remained at a stable level. The potential to achieve a rental yield of over 9% for the double studios within the project has generated the interest of small and medium-size investors. An increasing number of acquisitions for residential purposes is due to the strategic positioning of the project and the high degree of connectivity with major points of interest. 

Started in May 2018, the construction of the four apartment blocks has been completed in two years. The project includes 18 types of apartments with areas ranging between 48 to 144 sqm, as well as three exclusive penthouses with private pools that have already been sold. 

Akcent Development has developed around 7,500 apartments and four office projects in the past 20 years.