Prices sliding in Romania: is now the time to invest?

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Prices are declining for the fourth year running in Romania’s real estate market, potentially making it a good option for overseas investors.

Back in September, the Global Property Report Guide found that the average value of apartments dropped by 6.21% during the year to August 2012.

This adds Romania to the growing list of countries where property prices are plummeting.

In what will come as good news for international investors, property prices are at a low in both Florida and Spain – a trend which has now extended to Romania.

The weak dollar and cheap prices are pulling Brazilians and Canadians in the direction of Florida’s real estate market; while the rocky eurozone economy means that prices in countries such as Spain and Greece are also on the downward slide.

However, Brits have been warned they should take action if they want to snap up a bargain in sunny Spain.

Prime property in the Mediterranean country is being snapped up by foreign buyers from Scandinavia, the Netherlands, Belgium and Russia, according to Mark Pritchard, sales and marketing director of Taylor Wimpey de España.

Why buy property in Romania?

A country soaked in medieval heritage, Romania is brimming with mysterious castles and fortresses ready and waiting to be explored. Far from being the country’s only architectural treasures, the world-famous painted monasteries in Bucovina and the ancient hilltop citadels in Sighisoara will instantly transport you back in time.

Central Romania envelops a region famously known as Transylvania, a name which immediately brings the legend of Count Dracula to mind. But Romania does not just cater for cultural history buffs: those looking to relax are free to do so on the miles of warm sandy beaches that garnish the country’s coastline.

Send money to Romania

When sending money overseas, it is important to spend time thinking about the best way to do so.

For instance, did you know that foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers?

Comparing the market is the surest way to find the cheapest way to send money abroad and make some big savings.

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Prices sliding in Romania: is now the time to invest?

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