Romania
Brief description
România is a country in Southeastern Europe. It shares a border with Hungary and Serbia to the west, Ukraine and the Republic of Moldova to the northeast, and Bulgaria to the south. Romania has a stretch of sea coast along the Black Sea. It is located roughly in the lower basin of the Danube and almost all of the Danube Delta is located within its territory.
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Bellevue Apartments
This development offers investors the unmissable opportunity to purchase regionally unique, high-yield, luxury 2 or 3-bed flats and penthouses in Romania’s second largest city. Bellevue is situated in the city’s most desirable district and benefits from proximity to museums, botanical gardens, a lively entertainment scene and spectacular city views.
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Kronstadt
An investment opportunity such as Kronstadt offers investors a fantastic opportunity to gain entry to one of Romania's second-tier cities at exceptionally low prices.
Romania has been a member of the European Union since January 1, 2007, and has the ninth largest territory in the EU and with 22 million people it has the 7th largest population among the EU member states. Its capital and largest city is Bucharest, the sixth largest city in the EU with almost 2 million people.
Economy
Romania is the second largest investment market in Central and Eastern Europe with an official population of 24 million. With membership of the EU in January 2007, and a real GDP growth rate of 7.7% in 2006, the property market is already growing. EU Structural Funds are set to grow to a massive 30 billion Euros from 2007 to 2013, which is currently the largest allocation in Europe.
Developers are now concentrating on the emerging middle-class market after focusing on commercial property and luxury new builds. Since April 2006, mortgages have been available to foreigners and already there are products on the market offering up to 80% LTV.
Interesting locations
Braşov is currently experiencing massive capital growth, with current house-price inflation of circa 25% per annum and in some areas of the city of up to 40%.
The city is enjoying increased FDI and major infrastructural projects will ensure further investment into the city. A new motorway is under construction, which will reduce the journey time between Bucharest and Brasov from two hours to one and a half hours, and a new international airport is also under construction outside the city.
Links
- BBC News Country Profile - Romania
- US Department of State - Romania
- CIA World Factbook - Romania
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Federal Research Division, Library of Congress -
Romania : a country study
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