The value of real estate in Romania – malls, office buildings, houses and land – has declined by an average 30-35 percent since January, after a sound 15 percent annual increase since 2004, according to Colliers International consulting company Managing Partner, Bogdan Georgescu. According to the company,the depreciation is caused by the global financial crisis, which has sharply affected the local Real estate sector, making investors think twice before acquiring a property.
More on Romanian Property Prices have fallen 30 percent this year
Following on from our prediction that Romania will be a good property investment in 2008. News has just been released that UAE-based real estate developer Fortune Group, which has projects worth about Dh7 billion in Dubai, said it will launch two “multi-billion euro” developments in Romania.
