The first penthouse with a value of over 1 million euro was recently sold in VOGH Olimp Hotel & Residences, a project developed by CERTION.

The penthouse is located on the 11th floor of the VOGH Olimp Hotel & Residences project, which will be completed this year and will be open to guests at the beginning of next year. The transaction was carried out through the sale of luxury real estate partitions, a product recently launched by CERTION on the Romanian market. The concept of luxury real estate partitions was initiated in the United States in the early 1990s, with the aim of providing access to investment in luxury properties to those who do not want or cannot afford to buy such a property outright.

"For the new co-owners, accommodation by the sea will never be a problem again. They will be able to spend their much-dreamed-of vacations benefiting from all the standards of a 5* hotel, in Olimp, a resort that is once again, unequivocally, the pearl of the Romanian coast. This investment ensures them both real estate and financial comfort in the long term", said Cătălin Scripcaru, CEO & President of CERTION.

Unlike other penthouses purchased by sole owners, real estate partitions based on the concept of shared-ownership, offer, within the same budget, the possibility of diversifying holdings, and thus also the risks inherent in real estate purchases.

"Luxury real estate partitions are a financial product aimed at those looking for very low-risk investments with solid guarantees and attractive annual rents. In our case, an annual return of up to 11% in euros. Thus, the investment in luxury real estate partitions is a safe one and represents an effective form of protection against galloping inflation", explained Eduard Beuran, Partner and Investment Director, CERTION.

The average value of a partition is €32,000. But any customer can invest in multiple partitions. For example, with €96,000, a customer can own three partitions.

"From now on you don't have to be a millionaire to invest like one - just as you can buy a part of a plane or a yacht, this becomes possible for luxury real estate as well. Among the advantages is that the real estate partition is liquid at all times. The co-owners will benefit from a stable passive income, having the possibility to sell their owned partitions or to access the buy-back option offered by Loyal Paladin, the operator approved by CERTION", added Eduard Beuran.

From the point of view of generated income, there are two types of real estate partitions: closed real estate partitions - closed circuit, exclusively for own use, without income, and open real estate partitions - open circuit, for mixed use, with fixed or variable income.

This month, on the list of luxury private residences and hotel suites sold by CERTION through the real estate partition system, two penthouses from the GALILEO and VOGH Olimp brand hotel and residence projects are included.

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About Certion

CERTION was created in 2015 by Cătălin Scripcaru, Cezar Ionescu and Bogdan Căruntu, top professionals in the industry, with recognized experience in the development of real estate projects. Over the past 20 years, CERTION's founding team has amassed an impressive portfolio of projects, all successfully initiated, developed, and delivered. With an emphasis on challenging and visionary projects that go beyond the scope of most developer-initiated projects, CERTION has an approach designed to create a shared vision with communities and deliver both social and commercial value.

https://certion.com/

About Loyal Paladin

Loyal Paladin is a company that entered the local market in the first half of this year and specializes in luxury hospitality management. In Romania, Loyal Paladin will operate the largest alliance of branded residence hotels. The company's portfolio will include the hotel brands VOGH Olimp, GALILEO, PHAROS, LAGO-SOLANTIS from the southern part of the Romanian seaside and JAKOB SONNE from Poiana Brașov. Loyal Paladin is currently the operator of the EPICO villa in Olimp (epico.ro) and of the MOUSSAY Beach Club Olimp (moussaybeachclub.com).

https://loyalpaladin.ro