Romania

Joining the EU in January of this year, Romania is eager to cast off its label of being one of the poorest nations in Europe and is crying to get in on the property investment action. The property market has been growing at a bullish rate for three years now (an estimated 25 per cent p.a.), fuelled by speculators waiting for healthy capital returns once the country amends its property-buying laws, becomes a free market and receives more than 11 billion Euros in EU funding.


As Bucharest grows, particularly in the south, new areas are expected to attract more foreign money. Away from the capital is Transylvania, Romania's greatest tourist asset and famous for being the home of the legendary Count Dracula. Fascinating folklore aside, the area has year-round appeal: skiing in winter, hiking and outdoor pursuits in summer, medieval towns and interesting wildlife, including a resident wolf and bear population.

The main towns here are the cultural highlights of Brasov and Sighisoara, the former being close to Romania's largest ski resort, Poiana Brasov and the Prahova Valley in the Carpathian mountains. An airport is scheduled to open in Brasov in 2008 and a new motorway joining it with Bucharest is also planned, both good signs for the future. As a whole the Black Sea coast is still largely untapped.