Investment potential
in Romania - 03
Here there is an increasing demand for chalets and apartments to let out during
the Romania’s long ski season and the shorter summer season and possibly
more interestingly for an international property developer there is an intense
demand growing among Western Europeans for off plan ski property to purchase in
Romania.
It’s important to remember that foreign freehold ownership of land in Romania
is not currently permitted according to the country’s constitution - in
this way it is a similar country to Bulgaria. In Bulgaria there are currently
changes afoot that will see this old fashioned rule become obsolete in the next
eight years or so, and a provisional date has been set for an amendment to the
Romanian constitution based on when the country gains accession to the EU. Foreign
buyers can own property and real estate in Romania but to own land they have to
establish a Romanian based ‘foundation’ which is permitted to own
land.
Property investment opportunities are diverse in Romania and the potential for
capital appreciation is huge. The Romanian property market is a genuine emerging
real estate market built on very solid foundations and currently enjoying a growing
level of overseas investor interest. For long term gains and some short term yields
Romania is a truly interesting prospect.
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