Foreign buyers 'entering Romanian market'

Article Date : 03 October 2007

Overseas property buyers from different countries are increasingly choosing to enter the Romanian market, an expert has said.

Real estate lawyer Anthony Raftopol stated that investors from countries such as the UK and Germany were buying in the country to cash in on its current property boom.

He said that factors such as a fast rate of economic growth had impacted on its property market, along with high levels of demand.

However, he added that the supply of available properties was falling behind the level of demand, requiring the construction of thousands of new buildings across the country.

This could attract further investment and interest in the Romanian market among foreign buyers.

Speaking to the New York Times, Mr Raftopol said: "Prices have exploded here - the boom in prices should continue for a decade."

This comes after the American Automobile Association said the country was becoming a highly popular tourist destination among people from the US.

Foreign buyers 'entering Romanian market'

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