Many analysts have predicted Romania to be the country
to watch in 2007 with regards to overseas property investments and most attention
is applied to the beach resorts of the Black Sea Coast.
Property prices are well below its neighbours of Hungary and Bulgaria with growth
in the last 2 years of 25%.
Romania has emerged as the best European destination to invest in a holiday home,
according to popular TV show, A Place In The Sun.
Research carried out by the makers of the hit Channel 4 programme, revealed property
buyers would make the biggest profit if they bought in Romania, over and above
any other European country. The research took into account economic growth, property
price rises and potential rental income.
The average price for property in Romania is £17,000 and a £100,000
investment could be worth £514,000 in 10 years, according to the programme
makers.
Although Romania is not hugely profitable from a rental income perspective, because
the summer season only lasts four months, it still comes out on top as the place
to invest, largely because of its recent, excellent economic performance, the
country’s infrastructure improvements and low cost of property.
Property investors in Romania tend to concentrate around the southern Black Sea
Coast reflecting the growth in the Romanian holiday market. The World Travel and
Tourism Council (WTTC) predict that tourism will grow around 7.9% per year from
2007-2016.
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