Primaverii Palace in Bucharest, late communist dictator Nicolae Ceausescu's private residence, would sell for EUR 18-22 million, according to an appraisal made by real estate consulting company Regatta Real Estate.

Moreover, the palace, located in Primaverii neighborhood, might be rented for EUR 40,000 - 50,000 per month. The estimations were made based on the prices in the area - Primaverii neighborhood being one of the most popular locations for premium and luxury properties in Bucharest. The specialists also took into account the interior design, and the building's area and reputation.

The Primaverii Palace was built between 1964 - 1965 on a land plot that was initially covering 14,830 sqm. It now has a built area of 3,000 sqm and 4,800 sqm of land, as well as a swimming pool, a solarium, a sauna, a cinema, and a garden with peacocks. It also has 80 rooms decorated with silk wallpaper, wood paneling, paintings signed by famous Romanian painters, fireplaces, solid wooden floors, golden faucets, mosaics, marble, chandeliers and mirrors made of Murano glass.

Elena and Nicolae Ceausescu lived the last 25 years of their lives in this mansion, together with their children Nicu, Zoe, and Valentin.

The building is estimated at some EUR 6 - 8 million while the land has an estimated price of EUR 12 - 14 million. According to Regatta Real Estate, there is one thing that makes the palace less attractive: part of the front garden now belongs to the Embassy of Kuwait, so the future owner might see how a building is being built in the garden. Moreover, several plots of land have been sold over time, only 4,800 sqm being left from the initial area of 14,830 sqm.

On the good side, the Primaverii area is considered a high-security zone, so no cars or people are allowed on the streets around the building. A legend says that there are several tunnels under the palace, one of them linking the building to the villa near the lake, which hosted the Communist Party's meetings.

The house is now managed by the Administration of State Protocol Patrimony RA-APPS, and it was recently opened to the public.

Private palace of late Romanian dictator Nicolae Ceausescu to be opened to the public.

editor@romania-insider.com