Wednesday, January 15, 2014

Romanian Real Estate On the Rise

We are a Romanian law firm specialized in real estate transaction and therefore welcome the news about the rise in the volume of real estate transactions in the country in 2013. It seems that all those investors willing to bet on the Romanian market will not be wrong after all. There is one other very important note: in 2014 foreign investors will be able to buy all type of land directly (and not through a Romanian company) including agricultural land.

For additional information on the conditions of purchasing Romanian land you can also review our article: Purchase of Romanian Property by foreigners.

Property transactions in Central and Eastern Europe rose by 31 % in 2013. Romania is 5th out of 9 after volume brought in.
Romania has attracted 229 million, up nearly 25 % compared to 2012.
In Russia and Poland, " champions " of the region , investors bought commercial properties ( offices, retail and industrial ) 5.2 billion ( +40 % ) and 2.97 billion euros (+10 %).

One of the best developments had but Czech market where investment rose by almost 70 %, from 605 million euros in 2012-1015000000 euro. Ranking fourth is Slovakia with investment have soared , from 16 million to 250 million.

Other markets analyzed are Croatia (67 million, +56 % ), Ukraine (41 million, -84 %) and Bulgaria (23 million, +285 %).

The study authors noted an increase in investment activity in countries with low levels recorded in recent years , particularly Romania and Hungary (225 million euros from 121 million euros in 2012) .

" The year 2013 proved to be one of the most active commercial property investment market in Central and Eastern Europe, from the start of the financial crisis. From the perspective of investors , Poland continues to be the most active market in the region, the list of target most of them , " say CBRE representatives .

Moreover, they believe that austerity measures adopted in recent years in the region give a better perspective for 2014. At the same time, they point out that political problems can cause short-term concerns for investors in some markets " peripheral " but noted that overall investor sentiment is better than previous years.

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