| I have to admit it. I had almost no
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| | the fairy tale land of Transylvania. In
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| knowledge of the country of Romania just
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| | between is just about a little of
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| five short years ago, when I came here
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| | everything else, from natural healing
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| for the first time. What came to my mind
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| | springs, to flatlands highly suitable for
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| were images of Dracula, Frankenstein, and
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| | agricultural use, to a host of medieval
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| under-cared for orphaned children, the
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| | and modern cities such as Sibiu, Cluj,
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| kind that were featured in fund-raising
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| | Brasov, and Timisoara, which is perhaps
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| specials that appeared on television when
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| | the most Westernized of all Romanian
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| I was a kid. At least I can say that I
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| | cities.I spoke with a number of real
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| knew for sure that it existed, and so did
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| | estate experts about what the best
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| it's province of Transylvania. That's
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| | speculations for the real estate investor
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| partially contrary to what I was taught
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| | would be, asking questions like cost of
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| in elementary school, by the way, when
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| | entry, minimum length of time for
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| our teacher assured us that Transylvania
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| | investment to mature, etc. All seemed to
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| was only a storybook land and therefore
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| | agree that land, all over the country,
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| we need not be frightened that the
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| | was the best bet. Only one problem
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| horrible creatures that inhabit it
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| | though. Foreigners can't own undeveloped
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| actually exist!Today, five years later, I
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| | land without an attached dwellingHowever,
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| have a radically different and much more
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| | I discovered a loop-hole that not only
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| well-informed
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| | allows the foreign investor to own land
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| view of Romania. The things that used
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| | but also to diversify his investment
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| to come to mind about this country,
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| | portfolio, if he wishes, and invest in
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| rarely do anymore. When I think back
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| | the the three hottest areas of Romanian
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| about my old preconceptions of Romania,
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| | real estate at the same time - land,
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| it never ceases to take me aback the
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| | homes, and office space. It's called a
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| great difference between the infamous
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| | REIT- Real Estate Investment Trust.A REIT
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| legends and surprising reality about
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| | is a security that sells like a stock on
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| this country.Now, instead, I am captured
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| | the major exchanges and invests in real
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| by many of the same things that ancient
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| | estate directly, either through
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| Roman emperors like Cesar and Napoleon
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| | properties or mortgages.REITs receive
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| found so alluring about this place.
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| | special tax considerations, and typically
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| (Romania was a part of the Roman Empire
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| | offer investors high yields as well as a
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| and takes it name from the Latin word for
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| | highly liquid method of investing in real
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| Rome.) From incredible natural resources
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| | estate.
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| to majestic mountain and seaside
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| | The REIT concept is in action in Romania
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| landscapes, Romania is a place that has a
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| | by a reputable American firm and is
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| little of everything you would find
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| | designed specifically for the purpose of
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| elsewhere and a number of things you
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| | enabling foreign investors to have the
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| can't find anywhere else. And as for
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| | opportunity to invest in Romania's
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| Transylvania, my teacher was right on one
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| | greatest real estate opportunity (land)
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| point - it is a storybook land- but, on
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| | and to diversify their real estate
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| the contrary, for it's beauty and that of
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| | portfolio, even with minimum funds for
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| it's people.Ultimately as concerns
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| | investment. (The usual entry investment
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| Romania though, the most important
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| | is 25,000 Euro.) Investors should be
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| discovery I made in my search for the
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| | willing to hold there money in the
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| truth about this land of legends, is the
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| | portfolio for about 5 years. The yearly
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| tremendous real estate investment
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| | gains over that period of time are
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| potential that exists here.Romania
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| | expected to be quite significant and
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| presents the investor with an exceptional
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| | investors who currently have invested in
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| opportunity to benefit from the ascension
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| | an REIT have already made considerable
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| of an eastern block country to the
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| | returns on their investment.A more
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| European Community. The timetime line
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| | explanatory overview is available for
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| this opportunity, however, is limited.
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| | those interested.Another promising
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| Romania is one of the last European
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| | development for Romanian real estate is
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| countries in ascension talks with the EU
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| | created by the construction of a new 2
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| and it is projected to enter in either
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| | billion EURO super-highway being realized
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| 2007 or 2008. The expectation around this
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| | with the financial backing of the EU.
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| hallmark event has resulted in much
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| | This new super-highway built with the
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| needed economic and government reform,
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| | technology of the American firm
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| making conditions more suitable for
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| | contracted to complete it by the year
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| foreign investment.The pre-ascension
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| | 2010-12 will dramatically change the face
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| excitement has also given way to a
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| | of Romania. It will cut the travel time
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| dramatic increase in real estate prices
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| | between Bucharest and major European
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| in recent years, especially in major
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| | cities down significantly and literally
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| cities and tourist areas. For example, a
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| | create new major destinations in Romania,
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| friend of ours bought a 2-bedroom
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| | overnight. Cutting through the Western
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| apartment in central Bucharest in early
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| | portion of the providence of
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| 2002 for $25,000 USD. Today his apartment
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| | Transylvania, numerous towns and
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| is valued at 75,000 EURO ($100,000 USD)
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| | potential resort districts abounding in
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| and the amount of interested buyers is
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| | raw natural beauty with mountains,
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| more then sufficient.So much so, that
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| | springs, and rivers will suddenly be
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| potential buyers have actually posted
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| | centrally located. Rather then remaining
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| advertisements on the entry door to his
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| | isolated, somewhat hard-to-reach hidden
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| apartment building stating that they are
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| | treasures, these gems of Mother Nature
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| eagerly looking to buy an apartment in
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| | will now be as close as turn on the
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| the building or a nearby one. This friend
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| | off-ramp. Truly, many of these locations
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| of ours can choose to sell his apartment
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| | surpass the potential found in the
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| today at a significant profit or hold on
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| | current tourist areas that are easier to
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| to it until closer to the actual
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| | reach.
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| ascension of Romania to the EU, allowing
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| | .The ability to start an inn or bed &
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| him to benefit from the greatest possible
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| | breakfast in one of these areas is ripe.
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| appreciation in value of his property.
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| | We even know of a top Bucharest hotel
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| During the mean time, he could continue
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| | chef ready to pack his bags and commit
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| to rent out the apartment at 700 EURO
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| | his energy to starting a restaurant in
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| ($890 USD) a month or get in on the burge
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| | one of these new destinations for a small
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| oning short-term rental market which
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| | piece of the potential profit he believes
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| offers an alternative to the over-priced
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| | it will yield. Those who are in Romania,
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| hotel room rates in the city, and with a
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| | know the market, and have seen what has
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| pretty good occupancy rate, rent the
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| | happened thus far, have little doubt what
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| apartment on a daily or weekly basis at
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| | the future will yield and are ready to do
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| 50 Euro per night.Our friend is just one
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| | almost anything to get in on the action.
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| of countless foreign citizens and
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| Romanians who have already profited
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| | For those who are looking to relocate,
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| greatly from investment in the Romanian
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| | the opportunities likewise are great.
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| real estate market. Yet, as you will soon
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| | This is the chance to live in the best of
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| discover in this article, there are still
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| | both worlds - old and new - and position
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| better deals out there to be had then the
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| | yourself and your loved ones in what will
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| one he and others have so far benefited
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| | be one of the biggest member countries of
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| from.
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| | the European Union.An American friend of
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| While the prices have already jumped
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| | mine owns a beautiful home in a lakeside
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| significantly in recent years, the
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| | suburban community with a wonderful view
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| near-certain speculation is that they
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| | over the lake and 2000 meters of land.
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| will continue to rise dramatically until
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| | This two-story home with three bedrooms
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| the time of the ascension of Romania into
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| | cost him about 150,000 Euro to build. The
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| the European Union. The certainty of this
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| | premises also contain an outdoor kitchen,
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| speculation is bolstered by the 10% rise
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| | orchards groves and gardens. In short, a
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| in cost of houses, apartments, and
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| | dream home.By deciding to build his dream
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| property in Bucharest over the period of
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| | home outside of the city, about 25
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| December 23, 2004 and January 5, 2005.
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| | minutes downtown Bucharest, in what
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| With the amount of interested clients
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| | Americans would consider a nearby suburb,
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| sufficiently high this means that an
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| | my friend not only saved on land costs,
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| investor could have bought and sold a
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| | he also set himself up for a great growth
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| property and made a 10% profit in less
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| | in value.As he put it, draw a circle
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| then 2 weeks in the Romanian real estate
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| | around any Western European city of 25
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| market while he or she was celebrating
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| | kilometers and you have the city's
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| the holidays with family or busy skiing..
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| | suburbs. As Bucharest continues to expand
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|
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| | this area will become a
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| The amazing reality is that such
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| | centrally-located, well-saught-after
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| opportunities for substantial profit
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| | suburb, especially with the large lake
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| continue to exist, for now at least, here
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| | and forest that it contains..
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| in Romania. In the capitol city of
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| | There is still a limited amount of
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| Bucharest, deals can still be found for
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| | property available both in this and
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| investors with ready cash from sellers
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| | neighboring communities for construction
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| looking for quick money. Another great
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| | of similar homes. The best bet seems to
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| speculation is office space in Bucharest.
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| | be the build your own home with a
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| At 1.2 Euro per square meter, Bucharest
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| | reputable construction firm, according to
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| is now close to the cost of office space
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| | your tastes, and pocket the savings that
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| in Vienna which is currently at 1.8 Euro
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| | this effort will yield for you.A home in
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| per square meter. These prices continue
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| | the suburbs, of course, is not for
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| to accelerate. Such opportunities though
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| | everyone. The true romantic may be more
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| are only the beggining.
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| | intrigued by a "conac" the Romanian name
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| While the general over-evaluation of
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| | for a cottage of the aristocracy of the
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| real estate in Bucharest has caused
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| | Country at the turn of the 20th century
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| prices to rise and made the average cost
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| | where gentry would spend their weekends
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| of entry higher then just several years
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| | and summers sipping wines from the
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| ago, this very reality, gives clear
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| | surrounding vineyards as well as the
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| indication that clever investors can
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| | basement vaults.
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| continue to benefit from this
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| | .These home often need a little fixing
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| over-evaluation of property value in the
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| | up, but are worth it as the lingering
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| mayhem surrounding Romania's anticipated
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| | aroma of the wine harvested on their
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| EU entry.It is generally held that prices
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| | estates and spirit of days gone by
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| will continue to rise sharply until
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| | continue to fill the premises with an air
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| leveling off, or perhaps dropping
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| | of magic.
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| slightly, after the entry of Romania into
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| | For the cost of an acre in the Napa
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| the European Union. This has created a
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| | Valley (or probably less) you can have a
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| short time period in which investors can
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| | functioning micro-vineyard and getaway
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| yield serious turnaround on their
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| | home located in the Romanian wine
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| investments and those wishing to relocate
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| | country, situated in the steppe to the
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| can do so while getting in at a good
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| | Carpathian mountains, a short drive from
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| bargain.The best bet for investment
| |
| | Bucharest.Another alternative would be a
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| oriented apartment-hunters in Bucharest
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| | mountain home or getaway which be had
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| today is high-end luxury apartments. The
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| | from anywhere from 20,000 Euro and up. A
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| potential for profit off of lower to
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| | superb villa in a choice location would
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| middle end apartments has began to tweak
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| | be about 100,000 Euro. Most such homes
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| off as prices have already risen closer
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| | come with spectacular mountain views and
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| their final expected levels. A luxury
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| | often with other natural beauty close by
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| apartment however, which can currently be
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| | or on the grounds of the property, such
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| had for between 120 to 200,000 Euro (2-3
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| | as fragrant pine tree forests and
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| bedrooms), will likely climb in value
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| | meadows.Romania offers excellent services
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| 10-20% a year, over the next two years
| |
| | and conditions for expats. The general
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| leading up to EU ascension. By looking at
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| | cost of living is much less then in the
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| the price of luxury apartments in any
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| | European Union and allow the non-European
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| European Union capitol city versus
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| | the chance afford-ably stake his claim in
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| Bucharest, the capitol city of Romania,
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| | the European Union and establish a life
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| one can observe the great disparity in
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| | in what will be a flourishing European
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| prices which still exists at the moment
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| | superstate.
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| between the luxury apartment market here
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| | Whether one is looking for a short-term
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| verses in EU capitol cities. While the
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| | investment turn-around in an European
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| investor waits for his investment to
| |
| | capitol city like Bucharest or to start
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| mature he can rent out his apartment for
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| | their own resort inn in the breathtaking
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| 1,500 to 2,000 Euro per month, further
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| | wilds of Transylvania, opportunity is
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| adding significantly to his overall
| |
| | readily available for the serious-minded
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| profit. The number of multi-national
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| | investor.This opportunity which is
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| companies present in the city makes this
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| | available in the present is akin to that
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| a relatively easy sum to get for such a
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| | which was available in the Czech Republic
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| place on a rather consistent basis.
| |
| | 10-12 years ago. Many speculate, based on
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| . At this point it stands to mention
| |
| | Romania's size and natural assets, the
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| that any real estate purchase made by a
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| | future yieldings will actually end up
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| foreign individual can be financed by
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| | being much greater.These opportunities
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| leasing available through only one
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| | will not last long. As the EU accession
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| Romanian company, as long as a 20-30%
| |
| | gets closer and the new highway is paved,
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| deposit is initially made.While Bucharest
| |
| | the potential for revenue-making that
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| abounds with investment opportunity, the
| |
| | currently exists will clearly subside and
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| opportunities outside of the capitol are
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| | diminish. For those who missed out on
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| also ripe with potential for significant
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| | investment in the Czech Republic and
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| profit matching or exceeding that of
| |
| | Hungary and don't want to miss out again,
|
| Bucharest. Romania offers a diverse
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| | the time is now in Romania.Kevin
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| landscape ranging from a large stretch of
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| | Stillmock has been involved in real
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| seaside along the Black Sea Coast to the
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| | estate investment since 2000.
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| impressive Carpathian Mountain range in
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|
