Romania : A Worthwhile Investment?

Romania is not so much an emerging economy but rather a country on the brink of becoming an emerging economy. Like Bulgaria, it is set to join the EU in 2007 but unlike Bulgaria, Romania is struggling to overcome and alter its reputation for corruption and organised crime. For many it still conjures up images of bleak orphanages and communist desolation.

The good news the current government are keen to crack down on crime and the economy is growing, significantly enough to lead to a fall in unemployment and increased stability all round.

The country has some stunning landscapes and like Bulgaria has a small coastline along the Black Sea. The real estate market is severely underdeveloped at the moment, meaning that for those willing to take the risk and go in at ground level, Romania offers some excellent property bargains. You might expect to pick up an apartment in the centre of Bucharest for €25,000. Move out to the suburbs and you can find houses in need of renovation for as little of €10,000.

For the brave and optimistic, Romania, particularly Bucharest, offers great potential. There’s no doubt that the property market in Romania will take off. It’s just a matter of sitting it out and waiting. When the investors go in, the tourist will follow and you might expect development similar to those along Bulgaria’s coastline popping up along Romania’s coastline. After all, five years ago, who would have thought that Bulgaria would become a hotpsot of investment activity.

With this in mind, brave speculators prepared to sit on their investment for a few years, might be inclined to buy up land in Romania, particularly along the coastline and around some of Bucharest’s more up market suburbs. When the boom takes off, there’s no doubt that developers will flock into the Black Sea areas, the Carpathian Mountain regions and Bucharest’s suburbs.