Accession cuts down risks in real estate

Romania’s accession to the EU has caused the local real estate market to become a safe form of investment, witnessing investment superior to that of more developed states, according to foreign investors who attended the MIPIM real estate fair, held in Cannes every year. MIPIM saw a record number of participants this year, 25,000, with Romania being represented by 14 exhibitors. “We intend to open an office in Romania this year, as it is a continuously expanding market. We are interested in investing in residential projects, which would put out at least 3,000-4,000 homes on the market,” says Han P.T.M. Joosten, market research manager within Bouwfunds, the real estate division of the Dutch Rabo Bank. Additionally, London-based fund manager Europe Capital, has announced the launch of a new investment fund, which will allocate over 600 million euros for real estate projects in South-Eastern European countries, including Romania.