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Romania was recently considered by Channel 4's A Place in the Sun TV programme to be the best place to make money in Europe in the housing market over the next 10 years. The prediction is that a £100,000 investment will give a 414% return on average! It is a great place to visit, and things are progressing (slowly) since those dark iron curtain days. The alphabet is the same as our own, and the language is the closest relation to Latin of all surviving languages apparently. Romania joined the EU on 1st January, 2007.
The capital Bucharest has architecture reminiscent of turn of the century Paris in parts. It's a big bustling city, although not without its concrete monstrocities too. The countryside is really beautiful - Brasov (and Dracula's castle nearby!), the Carpathian Mountains, the Monastries of the north, the Danube, and there's the fun and sun of the Black Sea Coast. The tiny towns of 2 Mai and Vama Veche are favourites with the younger trendy crowds, who take over the beaches in summer. Other places of interest include Arad, Brasov, Cluj, Constanta, Timisoara, Tg Mures, Sibiu, and Sighisoara. There are year round resorts that are worth consideration - in particular Poiana Brasov, Sinaia, Predeal, Paltinis and Runcu in the lofty Carparthan mountains. Watch out - you may spot bears, boar and wolves! Romania has a large number of spas including: Mangalia, Neptun, Eforie Nord, Covasna, Slanic Moldova, Vatra Dornei, Borsec, Sovata, Tusnad, Calimanesti, Govora, Herculane, Buzias and Baile Felix. Lonely Planet Guide to Romania
Ask a ProfessionalThere are investment prospects in Romania, but it is essential that you seek independent expert professional advice before undertaking any property purchase. There are lots of things to bear in mind, including local laws and regulations, taxes, surveyor's assessments of the building, financial currency exchange, dealing with interbank transfers, volatity of the housing market, etc. etc. In some Eastern European countries there are various restrictions on foreigners owning land or property, so this needs to be checked out fully. Any property purchase is a major undertaking. It may seem obvious but it's well worth going on holiday to a country several times to see if you like it.
Surge in InterestThe interest in purchasing property abroad has increased at an amazing rate in the past five years, fuelled in the UK by a booming domestic housing market making overseas properties seem good value for money. Also, TV programmes like Channel 4's `A Place in the Sun' have made everyone realise that owning a property abroad is no longer just for the rich and famous. People are interested in purchasing a home overseas for a variety of reasons - enjoyment, investment, a new life, retirement, and more.All links and text on this site have been provided for informational purposes - they are not recommendations.
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