Romanian property 'in raptures'

Romania will deliver the largest property growth in 2008, claims Property Secrets…

Neil Lewis of Property Secrets, recently commented: “Romania is awash with very large funds and many High Net Worth individuals looking to buy land, whole developments and blocks.”

“I have to say that I have never seen a market with as much activity as we are now seeing in Romania and I think 2008 will be the year in which cities such as Cluj-Napoca, Brasov and Bucharest too, to some extent, gain recognition at an international level.”

”Simon Blakebrough is our resident Romanian expert. He visits Romania, looking for deals for Property Secrets on a regular basis and can not rave about the country and the investment potential it offers enough.

”Each time I go to Romania to source deals, I come back even more full of the place than the last time,” comments Simon.

“I have been everywhere, across the country, within Bucharest and literally to the borders. I’ve toured the country and seen different things that all look exciting – this is a country with almost limitless opportunities.”

And to back this up are some economic facts:

• The country’s economic growth is set to accelerate this year – powered by the boom in construction.
  
  
• GDP will probably grow at over 6% for the year, from an estimated 5.7% in 2007.
  
  
• Last year new car sales in Romania surged by 23% this was down to increased wages in the country and a boom in consumer credit.
  
  
• Net monthly wages rose an annual 23.5% in November and unemployment was at a 15 year low.

The figures all add to the fact that this country is not yet affected by the credit crisis and is actually seeing some tremendous growth, making this by far one of the safest and most exciting locations for investors right now.