Property development projects due to commence in Oradea
Romania has a long way to go to catch up with the other members from the EU in terms of the road infrastructure. One of the ongoing projects, rated amongst the top ones in Europe due to its size, is the Transylvania Motorway, which will link the city of Brasov with Bors, a small town at the border with Hungary. While Brasov is already famous enough, particularly due to its touristic attractions, and Bors will probably lose its exclusive fame due to the customs point, another city is likely to gain from this project.
The place mentioned above is the city of Oradea, positioned less than 10 miles to the border with Hungary and counting only about 200,000 people (10th largest city in Romania) - you can find out more about the city from its official site. Also, a comprehensive overview of the city, together with its potential, can be found in a document produced in 2001 by Harvard University. Nothing to indicate a surge in prices, but a motorway passing nearby changes a few things…
What both the site and the document have not mentioned is that recently, due to the potential associated with the motorway, the investment potential of the city increased considerably. This is why, apart from the estate agencies, either local or aiming to attract foreign small investors, there are currently rumours circulating that more and more UK and Irish investors appeared to have started development projects around the city. For now the information is rather scarce but…keep an eye on Oradea!
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Posted: November 11th, 2006 under Property Development.
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