Half of Asmita Gardens apartments have been sold

Some 85 percent of the buyers are final users, namely people who intend to live in those apartments, while the rest are investors, according to company representatives. "We estimate all apartments will be sold after the completion of the second stage of the complex, scheduled for the spring of 2009," Asmita Gardens' Project Manager, Anca Birda, told Business Standard.

Prices for apartments in the residential projects start at €1,300/square meter, excluding VAT. There has been a 25 percent rise in prices since the project was launched, and these are expected to increase a further 10-20 percent by 2009.
The investment in the project, initially estimated at some €100 million, is expected to rise a further 10 percent, because of higher prices for construction and finishing materials imported from Italy.

The project covers 27,000 sqm and is to include seven residential buildings and retail areas.