Guys, lets keep it to the topic in hand.

From Romanians I speak to, the market has really gone up alot, and alot of stock is moving, personally I believe alot of it is speculation, but there is a need for good new housing stock in alot of towns and cities, but that is different product to offplan expensive foreign investment places.

Sell to the locals is where the action is best, and most recession proof. Land prices seem a bit out of control and still there are at best with land registry and legal issues. It will take time, 5 to 10 more years before it moves to a higher and more sophisticated stage.

Spain after 30 years is far from perfect, so think of Romania, it needs to grow up as a place, like Bulgaria. Long term buy to hold, from what I see, the yields are out of line with prices, which does not bode well. ie. seems over pricing is coming in.

Like all markets there are deals. Just make sure you get one. Just because it is cheap, does not imply it is good value.

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