Romanian property prices 'to rise'

In news which may be of interest to first time buyers looking to become overseas property investors, an expert has predicted that property prices in Romania are set to rise.

According to Charlie Lambourn Brown from MRI Overseas Property, current prices in Romania's capital Bucharest are "significantly lower" when compared with some other European capital cities, which may be of interest to first time buyer investors looking for a lower cost purchase.

However, buy-to-let investors have been advised not to expect quick returns, with Mr Lambourn Brown stating that purchases should be viewed as medium to long-term investments.

"You will find that property prices per square metre in Bucharest are significantly lower than other major lower capital cities throughout Europe," said Mr Lambourn Brown.

"With Romania now [a member] of the EU, it is likely that these will go up," he added.

Romania became a member of the European Union on January 1st 2007.

firstrungnow.com