05.05.2021
CRESCO REAL ESTATE impacts the market: Agáty in Dúbravka just 24 months away
The largest residential developer in Slovakia, CRESCO REAL ESTATE, is launching the new Agáty project to meet the capital city’s demand for homes. The project in Bratislava's Dúbravka city district is located near forest, sports club, shopping centre, and entertainment zone. The developer seeks a wide target market – ranging from permanent housing, a comfortable alternative to recreational/weekend homes, and even long-term capital appreciation through this investment opportunity.
"The Slovak residential market has an acute housing shortfall, especially new buildings, and we’re aiming to satisfy this demand. Agáty targets a wide range of potential clients. We offer flats, apartments and houses for living or medium/long-term rental, including services,” says Ján Krnáč, CRESCO REAL ESTATE’s executive director. “The multifunctional Agáty project and an attractive area are sure to meet clients’ requirements.”
City & nature on the doorstep
Agáty’s main benefits include an excellent location and proximity to a protected forest area, which provides tranquil privacy and precludes an unwelcome neighbouring development. The project boasts outstanding accessibility, both by car and public transport – which will be further improved with a new bus stop directly on Agátová Street. The vicinity has a shopping centre, schools, kindergartens, and medical facilities. In addition to extending the tram line to Bory shopping centre, an integrated passenger transport terminal (TIOP) for buses and trains is also planned near Agáty.
The project design was envisioned by Compass Architekti, which has long cooperated with the developer on the flagship Slnečnice project in Bratislava’s Petržalka city district. “The Agáty design aims to combine high-quality modern housing with relaxation by utilizing exceptional local features: excellent amenities, easy accessibility, and a beautiful natural environment. Future residents will love these qualities, which are so rare in the city,” says architect Matej Grébert.
Home & weekend use
Agáty will consist of 121 apartments and flats (24.91 sqm to 105.80 sqm), and 29 houses (137.49 sqm to 189.77 sqm) with front gardens (99.69 sqm to 369.08 sqm). All properties are suitable for long-term (permanent) and short-term use, e.g. weekend housing.
Agáty also represents an attractive investment opportunity for long-term returns.
“When buying a two-room EUR 189,000 apartment, a client can get 5% p.a. yield upon its sale after five years. If financing the purchase with a mortgage, the average annual return can be up to 15% p.a. And those figures are based on a pessimistic scenario of average annual property price growth of just 3%,” explains Michal Pauer, CRESCO REAL ESTATE’s sales director. (Note: year-on-year apartment price growth in Bratislava in 2020 was almost 12%, according to the NBS.)
Agáty residents can also enjoy a shared swimming pool, gym and reception, which are unique benefits on the market and increase the project’s attraction to buyer-renters.
Apartments and flats will be offered as standard fit-out. All residential units offered will be financed through regular mortgage with the option of establishing permanent residence.
Numerous leisure options
The two inner courtyards between the residential buildings will give Agáty residents various free time options: the smaller inner block with outdoor pool is perfect for relaxation, while the larger courtyard invites active relaxation. The area will also be fitted with gym facilities. Other sports and relaxation opportunities are available at the neighbouring Penati club and adjacent forest.
“Agáty’s location near a protected forest area means it’s just so close to nature - an excellent starting point to explore the surroundings and reach Devín and Devínska Kobyla via walking trails. We also plan to build a cycle route through the project to connect with the city-wide cycle network,” adds Ján Krnáč.
Agáty’s construction is scheduled to commence Q3 2023.