Eastern Europe Property

Property boom in Romania

Romanian land prices have risen by as much as 700 per cent in the last year and the country is set to become one of the biggest new boom areas for major overseas property and land investment, according to a property investment company.

Romanian-based Chindia Estates says the investment hot-spots are Bucharest, Constanta, Brasov, Cluj, Timisoara, Oradea, Ploiesti and Targoviste. Property prices in these areas increased by 40 per cent between 2003 and 2004.

Tourist popularity in Romania is also enjoying a very healthy increase, with major hotel chains expanding their portfolio. The choice of holidays ranges from the unspoilt beaches of the Black Sea to ski-ing resorts.

Chindia Estates offers a package to potential investors that includes introductions to the best real estate lawyers, accountants, off-plan developers, agencies and title guarantee companies. It also markets properties to smaller investors.

This entry was posted on Wednesday, October 5th, 2005 at 9:51 pm and is filed under Romania. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.