I agree with you David, people should look into "am I getting value or not". However there is no lack of naives both abroad and in Romania! My strong feeling is people get what they deserve and if they prefer putting money into something without looking for information re fiscal and legal issues, they should not doubt they get into trouble after.
Others like the flashy display of these developers and are not even cute enough to go see where the developments really are, so again no wonder to me.
Am also growing weary of so many "disaster-lover-analysts" on these websites! Most of them have never set foot in Romania and even have doubts they can correctly point it on a map, yet they venture into appreciations. Nothing that makes me laugh more but to hear words like "rip-off"! Had anyone been born with the sense of business, we'd have no poverty in this world. So of course, people waiting for everything to be done for them without them even opening eyes to look around, rarely do bump into success.
There is great opportunity in this country if you invest wisely and get value. If someone got today an apartment for 105k for example and can resell in 3 months for 150k is a very nice deal! Transylvania Investment not only promises, we actually did and continue to do so.
Quote:
Originally Posted by David howe
Everyone here cannot see the tree because of the forest. This is what overseas agents want. Put the fear factor in, talk about crumbling old blocks and blind you with all sorts of waffle.
First and foremost. Are you getting value? If you are not getting value everything else is incidental and foreigners buying from the new found experts who have rushed here from Bulgaria are not getting value. These so called experrts either do not know their elbow from another part of their anatomy or else do not care how they exploit you.
A perfect example of this is one company who bring Irish & UK investors to Romania. A development they sold at nearly 200,000 euros in 06 was offered to us at 123,000 euros and we turned it down as we could not stand over it for investors. The people who subsequently bought it cannot now even get their purchase price.
Another client who was deceived into buying 3 studios came to us and asked us to sell them. This particular agent has said that the prices have went up 40,000 euros. Of the 3 studios we have been able to sell one at his purchase price in 2006 and the only reason we were able to sell it was that the woman who bought it was not from Bucharest and was not familiar with the area or the poor build quality. Interest in them has been next to nothing locally.
The same figure invested with Investment Romania woud have returned well in excess of 60% and one particular client who came out with one of these companies has just returned over 80% and is testament to this.
There is incredible opportunity to be had in Romania and investors will do very well here. However, if they are not willing to take the time and care pre investment they cannot expect anything other than to get burned in the same way as they would buying a second hand car at auction.
Even this week we see an British/Irish company offering great opportunity in Bucharest, yet not only do they not describe exactly where the property is, but tell people they must set up a company to buy an apartment.
This is either being totally naive or blatantly deceitful and their is no place in any market. And on this topic, this is not a reflection on Romania but the incompetence of UK & Irish legislatures who will not regulate the sale of overseas property to prevent such blatant misrepresentation.
David Howe
Investment Romania - Property Romania, Invest Romania, Investment Romania |