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Braşov is located in the central part of the country, about 166 km from Bucharest. It is surrounded by the Southern Carpathians, and is part of the Transylvania region.
The city is a resounding example of old world Romania with an ancient center city square and little cafes throughout.
The real appeal of Brasov is the surrounding land. Unspoiled, the mountains surrounding Brasov are full of little villages and surrounding forests. In this area, you'll find bears, wolves and other threatened animals roaming freely. On top of this, the land is ripe with outdoor activity opportunities such as skiing, hiking, camping, hunting, rock climbing and parachuting. While all of this exists in other travel destinations, there is no tourist trap feel in Brasov.
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Industrial development in Braşov started in the inter-war period, with one of the largest factories being the airplane-manufacturing plant (IAR Braşov), which produced the first Romanian fighter planes, which were used in World War II against the Soviets. After Communist rule was imposed, this plant was converted to manufacture of agricultural equipment.
Industrialization was accelerated in the Communist era, with special emphasis being placed on heavy industry, attracting many workers from other parts of the country. Heavy industry is still abundant, including a large factory which manufactures MAN AG trucks under licence, as well as native-designed trucks and coaches. Although the industrial base has been in decline in recent years, Braşov is still a site for manufacturing agricultural tractors and machinery, hydraulic transmissions, auto parts, ball-bearings, helicopters (at the nearby IAR site in Ghimbav), building materials, tools, furniture, textiles, shoes and cosmetics. There are also chocolate factories and a large brewery. In particular, the pharmaceutical industry has undergone further development lately, with GlaxoSmithKline establishing a production site in Braşov.
A large longwave broadcasting facility is located near Braşov, at Bod.
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Braşov is located in the central part of the country, about 166 km from Bucharest. It is surrounded by the Southern Carpathians, and is part of the Transylvania region.
The city is a resounding example of old world Romania with an ancient center city square and little cafes throughout.
The real appeal of Brasov is the surrounding land. Unspoiled, the mountains surrounding Brasov are full of little villages and surrounding forests. In this area, you'll find bears, wolves and other threatened animals roaming freely. On top of this, the land is ripe with outdoor activity opportunities such as skiing, hiking, camping, hunting, rock climbing and parachuting. While all of this exists in other travel destinations, there is no tourist trap feel in Brasov.
Industrial development in Braşov started in the inter-war period, with one of the largest factories being the airplane-manufacturing plant (IAR Braşov), which produced the first Romanian fighter planes, which were used in World War II against the Soviets. After Communist rule was imposed, this plant was converted to manufacture of agricultural equipment.
Industrialization was accelerated in the Communist era, with special emphasis being placed on heavy industry, attracting many workers from other parts of the country. Heavy industry is still abundant, including a large factory which manufactures MAN AG trucks under licence, as well as native-designed trucks and coaches. Although the industrial base has been in decline in recent years, Braşov is still a site for manufacturing agricultural tractors and machinery, hydraulic transmissions, auto parts, ball-bearings, helicopters (at the nearby IAR site in Ghimbav), building materials, tools, furniture, textiles, shoes and cosmetics. There are also chocolate factories and a large brewery. In particular, the pharmaceutical industry has undergone further development lately, with GlaxoSmithKline establishing a production site in Braşov.
A large longwave broadcasting facility is located near Braşov, at Bod.
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Real Estate Investment Opportunities in Brasov- Overview
The real estate market in Brasov has a very dynamic retail segment, which has attracted significant investments in large developments and in modern commercial centers.
Residential Space Market
Brasov's residential market has seen steady development in the past few years, with new projects under development or being planned for the city's outskirts.The locations of choice for residential developments are the SouthEast area (Dârste) - exit to Bucharest, and the NorthWest area (Ghimbav, Stupini, Halchiu).Bronzului - Tractorul (North of Brasov) is another area with significant residential potential, due to easy access to the center of the city.
Land investments
In Brasov, the real estate market posted an exceedingly dynamic evolution on the land segment, especially retail and residential land.In 2005, investors rushed to buy land in the retail area including the exit to Bucharest, Stupini and Ghimbav (exit to Sibiu). In fact, the Western and Northern areas are the main expansion directions for Brasov, considering the city's geographical position.
The lands located outside the city commanded up to 70-100 Euro/sqm (lands in the retail area, bordering the national road), 30 Euro/sqm for land in Stupini, Sanpetru, and Cristian and some 10 Euro/sqm in the case of industrial land
Office space market
Rents revolved around 10-15 Euro/sqm/month in 2005, almost unchanged from 2004. However, we estimate a surge in rents in 2006, as office building developments will lead to higher quality standards for the Brasov market. For instance, two new office buildings are scheduled to be completed in 2006, both located in the Centrul Civic area. |
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