Land prices - trends
The price of land in Romania went up 35% in the last year and is due to increase further in the next couple of years. Similar to flat prices, the land prices had seen a huge increase over the last few years. For example, in Popesti-Leordeni region, 9km away from Bucharest, a region under continuous development and huge potential, the price of land was €1.5/sqm in 1998, €25/sqm in 2005 and reached approximately €35-40/sqm this year (2006). One of the factors favouring this increase is the issue of planning permission. It is well-known that in the UK the planning permission can substantially raise the price of a plot due to the difficulties met when obtaining it. The current Romanian legislation includes a clearly defined procedure, including specific paperwork and taxes, likely to take weeks rather than years, to obtain planning permission for a plot.
Last posts in Land
- High prices for medium sized land plots in Pipera
- Land for sale in Bucharest? Yes, there’s still some…
- Summer hot prices for land plots around Bucharest
- Price of land in Baneasa - an ever increasing offer throughout the past two years
- Price of land in Otopeni - evolution of sale prices between 2005-2007
Posted: August 31st, 2006 under Land.
Comments: none
Write a comment