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Romanian Property is Hottest in Europe

By: Nicholas Marr


Emerging property markets that bear all the hallmarks of future success are really quite hard to find. That is until I looked at the case for Romania. It offers property investors all the future capital growth they would want from an emerging real estate market. But don't take my word for it try following the multi nationals, they have all the resources possible to select the best markets in which to invest.

The car manufacture Ford recently invested in Romania by officially taking control of Romania Automobile Company Craiova, the former Daewoo operation. Fords commitment includes plans to boost the plant's annual production capacity to 300,000 units and double employment to 7,000. Ford executives said the factory will assemble the Transit Connectin 2009 and a new small car in 2010. John Fleming, president and CEO of Ford of Europe, said the Transit Connect, a compact commercial delivery vehicle, will go into production in Craiova in mid-2009. The vehicle currently is built only in Turkey, but Ford's assembly operation there is at full capacity. Earlier this year, Ford announced plans to begin marketing the Transit Connect in the U.S. in summer 2009.

Romania is proving to be a safe place to invest with high capital appreciation especially in the Bucharest area. The property market which offers homes at very low prices has in some areas of Romania seen bullish growth rates of 25% to 30% p.a. for the last 3 years. Romania is currently undergoing major infrastructural developments which will see further capital growth all over the country.

Real estate agents and many pundits say that the growth trend is expected to carry on for the next 5 years. Romania joining the EU January 1st 2007 along with the development of tourism on the Black Sea coast and in Transylvania, has secured the regions future in the years to come. It will have one of the fastest growing economies in Europe

The Super Highway between Constanta and Budapest which will go through Bucharest and Brasov will be a critical element in securing Brasov's role in Eastern Europe on a long-term basis. Not to mention that low cost airlines fly to several cities in Romania lead by Wizz Air and Easyjet.

British citizens are increasingly purchasing properties in Romania either as investments or holiday homes.

Romanian property prices are very cheap in rural areas but you need to be prepared to spend some time and to have renovation expenditures for your property to achieve British standards.

Mortgages are now available for foreigners. Should you wish to buy a villa or a plot of land, you will need to set up a company which is a very simple process - your estate agent should assist you with it. Purchasing a new or off-plan apartment can be carried out in your name without necessarily requiring a company formation.

What is for sure Romania offers investors a one off opportunity to enter a market in its infancy. Readers of my articles will know that my firm belief is that profits are not just made on sale but on the purchase price. This is why Romania has a compelling case for overseas property investment but you will need to get your skates on.

Article Source: The Article Library

Author Nicholas Marr has written numerous articles about overseas property. His articles are based on his experience of working with hundreds of international real estate agents in his capacity as CEO of overseas property portal romania.homesgofast.com/

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