Property prices in Romania are expected to fall significantly in 2009, according to a number of local analysts. Property prices reached their high in July of 2008 and have fallen considerably since then. In the fourth quarter of 2008, some areas saw drops as much as 35-40 percent. Some property analysts and agents predict prices could fall even more during 2009.
Even high end luxury properties in Romania, which have held their values well until now, could see a drop in price from 10 to 30 percent in 2009. Bucharest has been the leader in Romanian property for international investors as well as local buyers, but prices in the metro area are also expected to see a drop. One firm, EuroMetropola, looks for some good opportunities south of the city. Falling prices are a good opportunity for investors to find the ideal bargain.
While recovery in Romania is dependent on the global economic situation, there are some bright spots. Shopping centers and retail facilities are actually seen as potential investment targets in this Eastern European country, with high potential return for retailers. According to Business Romania newspaper, a variety of western retailers are looking to get a piece of the local retail market. With a new and relatively untapped market, this country will be a target for expansion in the upcoming years.
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