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Continue reading ‘City Residence Bucharest’

The Romanian star is rising – and at full throttle if recent travel developments are anything to go by. Thanks to the introduction by Aer Lingus of the first bi-weekly, direct flights between Dublin and Bucharest, up to €3 billion is expected to be plunged into the Romanian property market by eager Irish investors keen to minimize their exposure in a wobbly domestic market and grab a slice of the Eastern European pie before it is all gobbled up.
Continue reading ‘Irish Investors Forge Romania Real Estate Links’

Romania’s recent entry into the European Union has had many international property investors standing up and taking notice of the nation’s rapidly emerging and developing real estate market. The buzz is definitely centred upon Romania become a big player on the emerging property market scene…

Continue reading ‘A Guide to Romania Property Investment’

The release of a major film can attract holidaymakers to a particular destination, it has been suggested and has lead to the coining of the term set-jetting. Here at Nubricks we believe that the likes of blockbuster releases such as Pirates of the Caribbean shot on location in Great Exuma and Grand Bahama islands and Cold Mountain filmed mostly in the Transylvania region of Romania have done more to highlight the natural beauty of these countries and foster visitor appeal than high profile expensive tourism marketing campaigns. Furthermore they have sparked the property investment potential of these parts of the world by firstly showing the general public that these places exist, what they really look like and proving that some of the worlds most spectacular sights remain outside the old travel standards.
Continue reading ‘Blockbuster Films Create Blockbuster Property Locations’

The historic Danube Bridge II began its construction yesterday, with the prime minister of Bulgaria, Sergei Stanishev, symbolic ground breaking at the bridge’s proposed location at Vidin-Calafat reported the Bulgarian News Agency.

Continue reading ‘New Danube Bridge project to bring Bulgaria-Romania border prosperity’

New low cost airline routes opening up are always viewed with a positive light from the UK’s perspective usually as a precurser to the emergence of a new overseas property investment location but more often as yet another city break getaway to add to the raft of options on offer these days. A piece this week in the FT by Christopher Condonin Bucharest and Theodor Troev in Sofia takes a look at prospects for the new EU residents seeking to expand their horizons as the expansion of low cost airlines operations continues in Bulgaria and Romania.
Continue reading ‘Romania and Bulgaria set for boom in low-cost flights’

The New Year was filled with even more hope for new EU members, Bulgaria and Romania, which signalled the start of a brighter future for these two former communist countries. As of Monday, 30 million people awoke as brand new Europeans, part of the enlarged EU bloc, now comprising 27 nations. Within hours of membership, officials removed customs barriers at border crossings between Greece, Bulgaria, Romania and Hungary.

Inclusion within the EU, it is believed will have a significant impact on the property markets in both countries. Increased tourism buoyed by easier travel into Bulgaria and Romania will improve the market for second homes in both places. Bulgarians and Romanians living and working abroad will also benefit their home country by bringing greater wealth back into their respective economies and boosting house prices as they seek to invest in property. Finally, by becoming part of a European market place, Bulgaria and Romania will receive economic funding to improve infrastructure, build a more competitive business environment and from a real estate perspective, make buying a property in Bulgaria or Romanian property more transparent.

In the study which formed the basis for Channel 4’s 20 best places to make money, Romania ranked as the top property investment country in Europe over the next ten years, offering over 400% return on investment translating to a very healthy 17.8% return annually. In mid-October 2006, Knight Frank produced their European Residential Markets report forecasting upward capital growth in overseas property hot spots in 2007 and which reported that Romania was likely to become a strong property investment hotspot contender for 2007, being one of eight European countries forecast for 12.5 per cent capital value growth in 2007. Knight Frank predicted significant further capital growth in these emerging markets where demand keeps pace or outstrips supply.

Prior to accession investor interest in property in Romania remained high as many hoped to match the sizeable price gains achieved by those with the foresight to invest into the real estate sectors of earlier entrants Czech Republic and Hungary. With EU membership confirmation on January 1st, Romania must continue to attract foreign direct investment and build tourism, sectors both connected to the sustainability of mature real estate markets and to ensure long term prospects for economic growth. A positive side effect of joining the European Union will be that the process of buying Romanian property will become more straightforward as the rules relating to foreign freehold ownership of land and property align with EU regulations and should lead the way for opening up of the market for financial products. Continue reading ‘Planorama city apartments to target Bucharest property middle classes’