Romania Report| Investments in Real Estate and Properties Sibiu

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Interview with Klaus Johannis ,The mayor of Sibiu

Adapted from Tarom newspaper

HOW IS IT LIKE TO BE THE MAYOR OF ONE'S EUROPE 'S CAPITALS?

It's a very nice feeling to be the mayor of a city that draws the attention of so many Europeans.In the same time,it is a great responsibility.The program Sibiu-European Capital 2007 does not have a precedent in our contry and it is a opportunitiy not only for the people in Sibiu, but for Romania: of presenting ourselfs in front of the Europeans with what we do the best-culture.The importance of the event is furthermore important,as 2004 we became members of the European Union.

RECENTLY ,SIBIU WAS INCLUDED BY THE BRITISH DAILY “THE GUARDIAN” ON ONE OF THE FIRST TEN PLACES OF THE “50 FABULOUS LOCATIONS OF THE WORLD” WEBSITE.SIBIU IS ON THE NINETH POSITION, BEING OUTRUN BY NEW YORK,LONDON,PISA,PALERNO, CHICAGO,PARIS.WHAT DOES THIS MEAN FOR THE CITY?

For Sibiu it is a recognition of its most attractive sites-the beauty of historical centre and the value of the cultural program preparet for the year 2007.We are glad the British publication draws the readers attention from that part of Europe on Sibiu, which deserves a journey even from the other part of the continent.The arguments and the and appreciations of the top are even more valuable because, as well know it,the British media did not have too many praising words for our country.

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Sibiu

The city of Sibiu iti is situated in the longitude of 24° 29' East (in line with Lyon) and in the latitude of 45° 48' North (in line with Athena), near the geographical center of Romania.

Sibiu was for centuries an important industrial center of Romania.
The prosperity and harmony of Sibiu has its roots in a capitalistic tradition influenced by a long standing German work ethic. New entrepreneurs have developed new businesses after the collapse of communism and the foreign investments have started to flow in.
There are mechanical engineering works and industries producing textile machinery, foodstuffs and lather.
The city is also a market for farm products and cattle.

"By its location in the centre of the country and by its developing opportunities, Sibiu has better chances for quick and steady economic development than many other cities of Romania.
If you are looking for possibilities to profitably invest your money, this is definitely the right place to come.
I'm looking forward to meeting you. "

Klaus Johannis , The Mayor of Sibiu

Real Estate Investment Opportunities in Sibiu- Overview

Prices are increasing in Sibiu

The small stock of commercial spaces and the new status of European cultural capital led to an increase of rents in Sibiu's real estate market. Presently, the rents are situated around 30-75 Euros/square meter/month in central areas and in average 25 Euros/square meter/month in semi-central areas, according to Edil company representatives. New commercial spaces, usually constructed on the first level of residential buildings, are being sold for a price of 3.600 Euros/square meter in central areas; 2.000-2.300 Euros/square meter in semi-central areas and 1.200-1.400 Euros/square meter in good residential areas. The office spaces segment has recorded rents up to 10 Euros/square meter/month for central locations, with buying prices reaching almost 1.600 Euros/square meter. In the industrial segment, the rents can reach around 4-8 Euros/square meter/month with selling prices reaching 120-330 Euros/square meter. The majority of industrial projects developed in and around Sibiu offers constructed areas of 300-5.000 square meters.

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Old apartments in Sibiu more expensive than new ones (ZF)

Old apartments' prices in Sibiu are over 30% higher than those of new apartments, demonstrates an analysis of Edil, a real estate agency. Thus, a three room apartment in an old building situated in Sibiu's centre is priced at 90.000 euros, whereas the same apartment in a new building costs around 71.000 euros.

Sibiu County Virtual Tour