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Tuesday, July 18th, 2006Romania Real Estate Consulting Mkt Rises by 30% m/m
Tuesday, June 20th, 2006The real estate consulting market, except for the intermediary services, increases by about 30 percent a month. The market surveys, the evaluations and the administration of real properties are services that have just entered the Romanian market, but which have a spectacular development with the evaluations of properties having the highest demand, ACT Media news agency reports. The biggest demand in Romania is evaluations of properties.
Darian Company, which is specialized in all sorts of evaluations, posts 70 percent of the company’s turnover from evaluations of properties and from market and feasibility studies used for real estate projects.
“Ninety percent of the real estate consulting services offered by Darian Company are property evaluations, while the rest of 10 percent are feasibility studies for propriety development or for business plans,” Capital journal quoted Darian’s manager Adrian Crivii as saying.
In the context of the market’s development, the turnover increased in a spectacular way: EUR 1 mln in 2005 and over EUR 280 000 in the first three months of this year only.
The big real estate companies in Bucharest (which have recently changed their name into “consulting companies”) make good money from other services than from the brokerage services.
Most of these companies have international experience: Colliers, DTZ Echinox, Richard Ellis.
Over the first three months of this year, Echinox registered a monthly increase of 30 percent on the property evaluation segment.
They evaluated properties worth approximately EUR 120 mln.
Currently, the real estate consulting market lacks transparency and it is hard to estimate its total value, specialists agree.
However, according to Adrian Crivii, the property evaluation market only is estimated at EUR 7 mln for 2005 and at over EUR 8 mln this year.
The real estate consulting market is estimated at nine million euros in 2006, out of which the real estate evaluation market only will amount to over EUR 8 mln.
Source: Nine o’Clock
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Bulgaria and Romania should have no fear for their accession date
Thursday, May 18th, 2006Bulgaria and Romania should have no fear for their accession date, representatives from the Party of the European Socialists consider, the Romanian Adevarul reports.
MPs from PES point out that according to them the European Commission should point out clearly what Bulgaria and Romania should perform in the next months.
At the same time the MEP Titus Corlatean is rather more pessimistic than his colleagues. He considers that Romania will not be able to finish its preparation for the short time that it has till the European Commission’s final decision on the accession date.
EU Entry Date Not Decided Yet for Bulgaria and Romania
Wednesday, May 3rd, 2006EU Commission spokeswoman for enlargement Krisztina Nagy told EUexpands that no decision has been taken yet on the potential date of Romania and Bulgaria EU accession has not been taken yet, Sofia News Agency reports.
Nagy was reacting to information published by the Romanian press according to which in the draft EU Commission report, to be released on 16 May, there is the recommendation for Bulgaria to join in 2008, a year later than Romania.
The possible recommendation of one or two countries EU accession delay would be found in the “summary paper” to be published along with the reports about Romania and Bulgaria, EUexpands explains.
It adds that any word, phrase or meaning could still change on 16 May in the morning, during the adoption of the package by the EU Commission.
The final decision on the date of accession of both countries would be determined however only in June during the Brussels EU Summit that would act upon EU Commission’s recommendation.
Source: Sofia News Agency
Bulgaria & Romania EU Entry
Monday, April 3rd, 2006Todays Daily Mail p27 has a para about new migration fears. I quote – Bulgaria and Romania will become part of the EU on Jan 1st next year according to leaks from the European Commission. And also The EU decision was leaked by the German paper Die Welt by high ranking EC sources.
If true this is great news as it was still in some doub.
SOFIA TRAILS BUCHAREST IN PROPERTY PRICES
Tuesday, March 28th, 2006After a decade of rising prices on the property market, residential prices in the Bulgarian capital continue to be lower than that in Bucharest, Bratislava or Prague, shows data, as cited by the International Herald Tribune.
“Residential prices in Sofia still average only EUR 600, or USD717, per square meter, or USD 66 per square foot. That is much less than the EUR 750 average per square meter in Bratislava, Slovakia; EUR 850 in Bucharest and EUR 1,500 in Prague,” reads the article, entitled “The rise and rise of Bulgarian property”.
IHT forecasts that property prices will continue to rise. “The only uncertainty is by how much. And how long.”
Foreigners were involved in 23 percent of the 220,000 property deals registered in Bulgaria in 2005, transactions that totaled more than EUR 4 billion, according to the property association. The year before they generated 18 percent of all sales, or EUR 3.36 billion.
Second Annual Real Estate and Construction Conference
Thursday, March 23rd, 2006
EastEuro Link is proud to invite you to its forthcoming international forum on real estate and construction for the region of Central and Southeast Europe. Following the successful concept of bringing together regional government representatives and key industry figures, this event is tailored to provide knowledge and tools.
the Second Annual Real Estate and Construction Conference for Central and Southeast Europe
REGION UNDER CONSTRUCTION
Hilton Hotel, Sofia, Bulgaria
31. March 2006.
www.realestate.easteurolink.co.uk
Hear the very latest about the real estate and construction industry development in Central and South Eastern Europe. Don’t miss the opportunity to meet CSEE key stakeholders and discover the long-term vision for this rapidly transforming region. The conference will provide a superb opportunity to gather information and build new business relationships with the key players in the CSEE market.
Who will come?
· High Government Officials
· International Real Estate and Construction Organizations
· Property Developers
· Project Managers
· Financiers & Lenders
· Portfolio and Fund Managers
· Lawyers in the practice of real estate and property development
· Investment Advisors and Consultants
· Hedge Funds
· Insurance Companies
· Investment Executives
· Regulators
· Prime Brokers
Key topics to be discussed:
· The Role of governments in real estate and construction development
· Market regulations and legislative development in CSEE
· Comparison of investing in commercial, residential, industrial and infrastructure sectors
· Comparison of investment opportunities in different CSEE countries
· Overviews of real estate and construction markets in the region
· Financing issues for investing in CSEE property markets
· PPP environment in CSEE
· Future trends in property development and investment in CSEE
Network with your peers, competitors and future partners at the leading event for those interested in meeting the key players in the local market.
For the latest information regarding list of speakers and agenda visit
www.realestate.easteurolink.co.uk
Exceptional promotional opportunities available now!
TO BOOK YOUR PLACE, please contact Ms Alexandra Z. at:
Tel:+381 11 328 6 515
Fax: +381 11 20 26 115
e-mail: alexandra.zivkovic@easteurolink.co.uk
All attendees at the conference will receive a FREE CD ROM of conference material containing ministerial presentations and other conference material.
PropertyandInvesting.com
Wednesday, March 15th, 2006If you are in the property or investment business for a limited time only you can add your site to this new directory for free
Romania tops for holiday home
Tuesday, January 24th, 2006ROMANIA has emerged as the best European destination to invest in a holiday home, according to popular TV show, A Place In The Sun.
Research carried out by the makers of the hit Channel 4 programme, revealed property buyers would make the biggest profit if they bought in Romania, over and above any other European country.
A Place In The Sun ranked all EU countries, plus four that have applied to join – Bulgaria, Croatia, Romania and Turkey.
The research took into account economic growth, property price rises and potential rental income.
The average price for property in Romania is £17,000 and a £100,000 investment could be worth £514,000 in 10 years, according to the programme makers.
Although Romania is not hugely profitable from a rental income perspective, because the summer season only lasts four months, it still comes out on top as the place to invest, largely because of its recent, excellent economic performance, the country’s infrastructure improvements and low cost of property.
The top five with percentage return included Romania, 414%; Poland, 393; Portugal, 360; the Baltic states, 356 and Sweden, 352.
The remaining top 10 are made up of Belgium, 340%; Slovakia, 326; Slovenia, 278; Finland, 273 and Hungary, 269.
Making up the rest of the top 20 are Luxembourg, 263%; Germany, 261; Czech Republic, 260; Ireland, 222; Austria, 211; Netherlands, 208; France, 201; Italy, 199; Spain, 189 and Cyprus, 188.
Hot spots to keep an eye on are Portugal and the Algarve, says Garvetur Properties.
The real estate specialists for investments all over the Algarve claim the next few years will reveal a boom in the property market.