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| Positive fundamental factors converge to create a sustainable growth market |
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Factor 1 – EU accession
Joining the EU strengthens a country’s economy, as Ireland, The Czech Republic, the UK, Spain and Portugal have all proved. Romania joined the EU in January 2007 and has been experiencing steady growth in GDP as a result – forecast to continue at around 5.5% in 2008. |
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Romania is the second most populous country in the Central European Eastern region (22.5 million population compared with just 8 million in neighbouring Bulgaria). This makes the country the logical choice for international companies seeking a presence in the region and access to the increasingly valuable, fast-growing Romanian domestic market. Already Renault, Nokia, Microsoft and IKEA, along with many others, have indicated their confidence in Romania’s development by establishing regional headquarters there. |
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Most economists agree the fundamentals of the Romanian economy are strong and forecast sustained economic growth over the next 3-5 years. EU accession is acting as a catalyst for infrastructure development, international investment and increasing local affluence. Romania’s National Office of Statistics predicts salaries will rise by up to 72.5% by 2013, fuelling demand for new cars, consumer goods and, of course, new properties. |
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Factor 4 - Investment Grade Ratings
Whilst the economy has been growing rapidly over the last six years, the political and legal climate improved in preparation for EU entry and continues to remain stable. Investment ratings have tracked these developments, with the current consensus that Romania rates as an investment grade country. |
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Romania's property market is thriving and the future looks assured. The latest report from Collier’s, the respected international property analysts, states: “Regarding buyer profile, investor interest in the residential market has been growing recently. On such investments yields achieved have varied between 30% and 100% per year.”
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Comprehensive market analysis
These are the key factors behind the impressive growth of the Romanian property market, but other influences must also be considered. For a full account of the dynamics of the market: |
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Major investors’ corner |
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Bill Gates: "I have no doubt that during the next decade Romania will reap even greater benefits from the knowledge economy." |
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"In no country in Europe have we seen the growth potential and dynamic that we found in Romania." |
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"In Romania, we have the biggest portfolio in our overall investments" |
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"Romania is one of our priorities in terms of investments in this region." |
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