remarkable romanian economy tipped for property investment
News Posted On: 17 April 2009
Though the EC recently adjusted its growth forecasts for Romania, its economy is still expected to grow this year. That makes Romania one of the few countries in the world that is expected to avoid recession, quite an exceptional achievement for a country with a fragile emerging economy -- though it is surprisingly common in Eastern Europe.
"Romania's economy is exceptional. Though several Eastern European emerging markets are expected to escape recession, but only four by such a large margin: Romania is expected to grow by 1.8% this year, exceptional given that the big European economies have fallen into recession like dominoes," said Les Calvert, director of overseas property portal Property Abroad.com.
The continued economic growth within Romania also means a healthy outlook for the property market. Overseas investors should always be looking at who they are going to resell the property to, without relying on fellow foreign buyers. This usually means a healthy internal economy and a rising demand for housing among the locals.
"Many of the properties we have are in areas that are growing into economic hubs within their region. The properties -- like many in Eastern Europe -- are cheap, and with rising demand for housing in the area, will be easily resold," Les continued.
Property Abroad.com Ltd, a long standing UK based overseas property portal is currently advertising hundreds of properties for sale in Romania, including a beautiful 2 bedroom house in Central Transylvania for £39,000, and a massive land bank in Odorheiu for commercial investors priced at £656,361.
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