Published on 11 October 2005 at 10:18 am
Filed under: Europe:- Romania Property Guides » Romania Property Investor’s Introductory Guide
Romania is a stunningly beautiful country of sharp contrasts offering property investors the potential for massive growth and the chance to own some stunning real estate. But the real estate market in Romania is in its absolute infancy and this Eastern European country is only just joining the European Union so profiting from the property sector in Romania is not 100% straightforward.
However, there is absolutely no denying the charm of the country and the class of property on offer for sale in Bucharest, on the Black Sea Coast and in Transylvania - and there is also no denying the incredible room for growth in Romania and the commitment of the government to maximise their country’s economic expansion possibilities and manage EU accession by January 2007.
It’s fair to say that Romania is tentatively emerging from the communist cloud - not for Romania the promotion of massive foreign direct investment (although it has been inward flowing regardless!), not for Romania the adoption of EU rules and regulations across the board and without argument or the modernisation of rural areas or the agriculture industry for example. Rather Romania is gently but determinedly awakening from a long history of neglect and the harsh realities of life endured throughout the Ceausescu era; and the Romanian people are beginning to adapt to the concept of a modern market economy and the development of their country to fit the European Union’s model.
In the meantime Romania has such a vast capital of stunning natural resources that it has a great deal to offer the wider world particularly through tourism and the promotion of the county as a beautiful second home location. Romania is romantic - synonymous with fairytales and stories of vampires and werewolves - and in reality Romania has the breathtaking mountains of the Carpathian range, medieval castles and villages, an abundance of history and culture, forests where bears and wolves still roam wild and an untouched coastline that is beginning to become popular in the summer months with increasing numbers of visitors from Russia and Eastern Europe.
There exists the potential for substantial hotel and tourist amenity development all along the 225km of Black Sea coastline with foreign investment welcome. Furthermore this area of Romania is tipped to become a very popular area for holiday homes and even retirement homes and these are just some options being explored currently by international real estate investors.
Another area of Romania with a micro emerging property economy of its own is the Romanian Transylvanian countryside which was made visible to the wider world recently by the filming of Anthony Minghella’s epic ‘Cold Mountain’, and since the film was released this particular part of Romania has seen an influx of tourists from the UK and US and tourism is doing really well. Property investment in this part of the country has begun in earnest as well with a vast quantity of stunning medieval property for sale in need of renovation at rock bottom prices. The British are especially attracted to houses in this part of the country and Romania gives them a short haul destination offering a sharply contrasted way of very laid back life.
The capital city of Bucharest offers more traditional property investment opportunities with decent rental accommodation always in demand and an abundance of run down properties ripe for renovation and resale. For an investor to buy into Romania they have to have raised the capital elsewhere as mortgage facilities for overseas buyers are nonexistent at the moment and an investor should employ the services of a well recommended lawyer to traverse the miles of red tape and potential corruption that dogs transactions made in Romania.
For a true emerging property investment hotspot consider Romania. The potential for an investment made in Romania is as vast as the country is beautiful and the long term prospects for this gem of a nation are very positive indeed.
Europe:- Romania Property Reports
Complete listing of all current property reports for region: Europe:- Romania
