Romanian Property News

I re-wrote the following line a few times to avoid the praise look’n’feel but…it still expresses the same: the interest in the Romanian Real Estate Market is on the increase. The Romanian Wall-Street newspaper (not sure whether it’s connected in any way with the one in New York, but it is a good indicator of the current Romanian financial market), announced in an article that, through the Irish-Romanian Commerce Chamber, a group of 200 businessmen expressed their interested in Romanian real estate. Not sure whether the investors will find their pot of gold at the end of the Romanian rainbow, but, according to the same article, there are four categories of foreign investors, based on their interest in the market:

• Large investors – aiming to buy large plots of land and develop big real estate projects
• Medium investors - interested in buying a large number of apartments, typically striking a deal with the estate agents of  ongoing development projects
• Small-medium investors - investors with similar interests with the previous category, but likely to purchase a low(er) number of apartments – typically 15-20
• The fourth category starts with an s, but it is s for “seaside”, not “small” – it includes the businessmen who would like to invest in projects located on the Black Sea seaside, from villas to blocks of flats.

While the media is rather quiet about the first and last category, the second and third category do get their coverage. The latest example was the aquisition of one of the Planorama blocks by a foreign investor (covered in an earlier post).

Last posts in Media articles

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• The second edition of Condominium Bucharest real estate fair in figures
• Land for sale in Bucharest? Yes, there’s still some…
• More Romanian real estate market predictions for 2007