Property In Romania Next Big Boom 2007 : Property Investment Brasov : Romania Report : Property Investment Bucharest

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European Commission study shows North East Romania with Highest Economic Growth

Amazon, IBM , and Google have operation centers in Iasi, stimulating economic growth and increased spending power.

Austrian Airlines chose Iasi as one of six strategic European locations for a regional hub.

Major Supply versus Demand issue in the local residential mark

From

Romania Report-The Next Big Property Boom 2007

Introduction

Romania continues to prove itself as Europe's most engaging real estate market. Price Waterhouse Coopers, Colliers, JD Sales, and Place in the Sun are just some of the distinguished parties convinced that Romania is the place to be for the European investor.

The property market boom in Romania has previously been seen most clearly in Bucharest where the price of an average 100 sm2 apartment increased from $25,000USD in 2002 to a staggering 110,000 € in 2007. The wave of boom in the market has mirrored in Timisoara and continued on to Brasov which saw an incredible average property value increase of 212% in 2005. Opportunities in these areas remain plentiful. However, they are clearly past their prime.

The question has become, where is the next area in Romania to see the dramatic kind of growth (212% in one year) that Brasov has recently seen?

PROPERTY: HIGH DEMAND, LOW SUPPLY

As foreign companies continue to relocate to Iasi, there is a growing demand for quality accommodation,
instead of the old renovated flats in crumbling Communist-era apartment blocks. Quality accommodation, however, is very difficult to find in the city. While there is the odd new build here,there has been no large-scale development of quality new apartments or houses within a properly planned community – until now.

Economics: The Proof

The Next Big Property Boom in Romania

Specialists expect IT&C boom in Moldova

Moldova has long been the destination of choice for IT&C investors, but analysts feel that, in the next few years, as areas such as Bucharest, which was once deemed as the top investment option, will become increasingly expensive, North eastern Romania could turn into a local El Dorado.

"I believe that Moldova will see a genuine investment boom in IT centers and call centres in the next 2-3 years," Eugen Schwab-Chesaru, general manager for CEE of Pierre Audoin Consultants (PAC).One of the high-profile investments in Iasi was the opening of a Siemens VDO centre for software development and electronic components, early this year.As Bucharest is becoming increasingly "crowded," the investors looking for minimal costs will start considering Moldova. "Moldova has long been in the cards, but not many plans for IT centers have actually materialized, because the business and living standards were deemed as less accommodating. Also, Bucharest costs were still low enough at that point," Schwab-Chesaru added.

IBM Romania has expanded to Iasi, says Mihai Tudor, general manager of IBM Romania.
Transaction Systems Architects (TSA) recently opened its new division in Romania, Iasi.
US-based Amazon Inc. (NASDAQ: AMZN), the operator of the largest on-line shopping portal, Amazon.com, recently opened a major software development centre in Iasi, Romania.

To receive your limited time only free copy of Romania Report-The Next Big Property Boom 2007, please use our feedback form. You'll receive a link shortly in your e-mail to this essential new e-book for anyone considering investing in Romania.