News Article Cushman&Wakefield Echinox investment luxury report residential Romania
by Property Forum | Residential

The Little Genius private school rented a historical monument villa located on Kiseleff Boulevard in Bucharest in order to meet the social distancing requirements imposed by the authorities, the transaction being intermediated by Cushman & Wakefield Echinox.

Since the beginning of the pandemic, this is only one of the transactions intermediated by Cushman & Wakefield Echinox in the premium residential segment, given that the distancing restrictions create transactional opportunities in the premium real estate market in Bucharest, from behalf of institutions and companies that have to comply with the new norms, as well as from individuals looking for a residence that offers extra comfort.

The villa rented by the private school was built in the 1930s by the architect Marcel Iancu for the Chihăescu family of pharmacists and it is one of the first modernist buildings in Bucharest. Designed as a luxurious residence with extensive open spaces, the property has, for a long time, accommodated embassy headquarters. The residence has 10 bright and spacious rooms, as well as a generous private garden, set-up on most of the 2,650 square meters land surface.

In the Bucharest - Ilfov region there are over 250 private education institutions in which more than 30,000 children were enrolled in 2018 in the pre-university secondary education, nurseries and kindergartens, representing about 9% of the total.

Raluca Plavita, Director Residential Agency Cushman & Wakefield Echinox: “In the midst of the pandemic, certain business segments stand out and continue to grow, while adapting to the new safety operation conditions. For the private education sector, there are opportunities for expansion and development and although such locations are very rare, we managed to find a premium property suitable for its desired purpose, in a unique location with a spectacular garden.”