Romania Proves that it is No Longer the Poor Relation in the European Union
Romania’s ever improving infrastructure along with the entry into the EU this year has spurred the country into a very strategic direction.
Channel 4’s ‘A Place in the Sun’ has ranked Romania at the top spot in the ‘20 Best Places to Make Money, 2007’ The analysis takes into account the overall value of the housing market and factors in the amount of money that can be made in terms of rental yields and profit. Bullish statements such as predicting Romania’s property market is to increase by 414% within the next ten years.
Emerging markets property developer, Plaza Centers NV, are capitalizing on commercial retail developments in Bucharest and have acquired 3 major acquisitions within the last 8 months. One of which is a 34,000sq.m project, to include a 16,000sq.m shopping mall, costing an estimated €16 million. In a statement for the company CEO - Ran Shtarkman said ‘we are very excited at the prospect of pushing our other schemes within our Romanian development portfolio forward as quickly as possible,'
In 2006, Nokia announced an estimated €60 billion investment plan for a new premises in the county of Transylvania. Real estate deals are already on the move within the area encouraged by the assurance of a 15,000 strong workforce and have elevated property prices from €1-€5 to €25-€45 per sq.m.
Other developers, both national and International are putting millions in the residential real estate sector within major towns and cities, in an bid to capture an eagerly anticipated boost in tourism and ever improving local earnings. Balms International Lawyers have pronounced that Romania has a good ‘5-7 years of continued growth’ and ‘one of the best opportunities in Europe’.
Channel 4’s ‘A Place in the Sun’ has ranked Romania at the top spot in the ‘20 Best Places to Make Money, 2007’ The analysis takes into account the overall value of the housing market and factors in the amount of money that can be made in terms of rental yields and profit. Bullish statements such as predicting Romania’s property market is to increase by 414% within the next ten years.
Emerging markets property developer, Plaza Centers NV, are capitalizing on commercial retail developments in Bucharest and have acquired 3 major acquisitions within the last 8 months. One of which is a 34,000sq.m project, to include a 16,000sq.m shopping mall, costing an estimated €16 million. In a statement for the company CEO - Ran Shtarkman said ‘we are very excited at the prospect of pushing our other schemes within our Romanian development portfolio forward as quickly as possible,'
In 2006, Nokia announced an estimated €60 billion investment plan for a new premises in the county of Transylvania. Real estate deals are already on the move within the area encouraged by the assurance of a 15,000 strong workforce and have elevated property prices from €1-€5 to €25-€45 per sq.m.
Other developers, both national and International are putting millions in the residential real estate sector within major towns and cities, in an bid to capture an eagerly anticipated boost in tourism and ever improving local earnings. Balms International Lawyers have pronounced that Romania has a good ‘5-7 years of continued growth’ and ‘one of the best opportunities in Europe’.
posted by Obelisk International at 10:25 am
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