Damien Thiery is Managing Director of Romanian">http://www.romanianpropertiesltd.co.uk”">Romanian Properties Ltd and Property Investment Overseas.
http://www.romanianpropertiesltd.co.uk
http://www.propertyuncovered.com
Bucharest is currently undergoing the biggest property boom in Eastern Europe. The capital appreciation here is in everybody's mouth. What we can be sure of is that the demand for good quality, modern accommodation is driving prices fast. New developments are usually sold out 12 to 18 months before completion.
Although Bucharest property prices are rising quickly, they remain cheap by Western standards.
Romania’s metropolitan zones offer excellent opportunities for real estate investors. Bucharest is the economic hub of the country, generating around a fifth of the country’s GDP. Investors wishing to capitalise on the buy-to-let market currently have a choice of locations where they can purchase Romanian property at favourable prices, even compared to the other Eastern European emerging markets, with a view to making impressive returns.
The East side of Bucharest is currently undergoing an unprecedented growth due to the strong need of good quality residential projects.
Romania has experienced nearly half a century of communism. Most of the developments during that time were very identical buildings on the outskirts of the main cities of Romania.
The quality of the existing buildings is usually poor, the plumbing and the electricity are often defective in the communist buildings, not to mention the over-reliance on a unique lift per building which might not be in working order...
The need for new-built developments is extremely strong in the Bucharest area. The young generation as well as the middle- and upper- class markets are looking to relocate in off-plan apartments in and around Bucharest.
The number of off-plan apartments in Bucharest planned to date is around 50,000 units in the years to come, compared to a lack of more than 200,000 new properties.
Property investment overseas and in particular in Bucharest is one of the most profitable and safe way to invest and get high return on investment.
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