Many parts of Romania are now undergoing a frenzy of real estate construction. Since EU membership, an immense demand has fast emerged for quality properties in both the commercial and residential sectors.
Romania joins the rest of the world in experiencing a slowdown in its real estate market; however, it still offers property buyers a relatively positive outlook. Romania is settling into its EU status, implementing further changes to its infrastructure and looking forward to a standard of living comparable with that of Western European states. As standards within the country improve, the population is becoming better qualified, with higher wages and greater expectations. The nation is attracting unprecedented economic activity and investment from overseas, making for higher standards of living and, despite current inflation, many Romanians now regard property ownership as an attainable goal.
Overseas buyers have been focusing on the capital city of Bucharest. Ever increasing tourism and an influx of foreign direct investment from relocating multinational companies combine to provide opportunities for all types of investors.
The benefits of investing in highly affordable European property are further boosted by increased buying power that the exchange rate with the Romanian leu (RON) now provides. Shrewd property investors are identifying areas of high demand and short supply, buying now with a view to obtaining strong rental yields and capital appreciation over time.
It is an undisputed fact that early purchase at Romania’s currently outstandingly low prices will bring strong returns in the future. Many city locations are experiencing a serious lack of accommodation to satisfy today’s top notch business and consumer needs. Indeed, supply is simply not keeping up with demand, particularly in and around Bucharest and, with construction costs spiraling upwards, many investors are acting now prior to further property price increases.
Romania offers buyers the ideal opportunity to invest low into areas of high demand for property, and benefit from the obvious financial rewards that this will bring. In line with current tourism growth figures of an estimated 7.9% p.a. between 2008 and 2016, the holiday property sector is set to attract growth. Opportunities are available countrywide, with holiday properties in Transylvania, the coast and ski resorts fast gaining ground on other options in Bucharest.
A general guide to buying property in Romania. Our Romania property Buyers’ Guide gives you an idea of the purchase process for property purchase in Romania, along with some useful tips
Many potential buyers of property in Romania will seek finance for their investment. Find out the various finance options that are available for the purchase of property in Romania.
Intelligent currency exchange could save Romania property buyers thousands when transferring funds overseas. Due to our partnership with a major international FX company, clients can transfer funds efficiently.
It is essential to keep up-to-date with the property market prior to a purchase in Romania. This section offers access to the latest news and articles on the Romanian property market.
An appreciation of Romanian tax matters is helpful when considering the purchase of a property in Romania. Here you will find some useful tips.
Investing in an EU member state means obvious advantages for buyers from fellow EU countries. The government is keen to welcome foreigners and low taxes are some of the many of benefits awaiting investors in Romania today.
Although capital growth rates are unlikely to reach the levels of up to 40% per annum in 2007, investment property in Romania is still expected to attract steady appreciation as it is supplying a drastic shortfall of new properties in prime city and tourism locations. The nation’s increasingly wealthy, property-buying population is expected to boost Romania’s real estate market still further, providing an extra exit strategy for investors.
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