My first excursion into the Eastern part of Europe namely Romania was in 1999, when I was looking for opportunities in flower growing and exporting to my long standing customers in Holland. I also wanted to  investigate the region as an alternate location to live. 

Well to my surprise when I arrived in Bucharest from London, I was struck by the way that the Romanians coped with their newly found democracy after years of Ceausescu and all that it had entailed. The old buildings were just wonderful but not maintained; property was dirt cheap, central apartments in Bucharest were selling for around 200 Euro per square meter.

Unfortunately I did not buy any property at that time as the laws governing private property were rather uncertain. I returned each year after 1999 and as the laws were improved and the documents of title to property were clarified I was able to make a start and did so in the central region called Transylvania. I had toured the entire country to experience the different regions called Counties, and decided that Sibiu was the area that most suited my needs.

Transport is easy and relatively cheap to most parts of the country and the normal day to day items were easily obtained and always freshly available at the many markets that populate the towns.

Romania has such a diverse geography, from the wonderful Carpathian Mountain range to the numerous valleys with rivers and streams to the Black Sea.

Over the last few years European Banks have arrived and recognised the great opportunities that exist in what was a creditless society. They have enticed the population to taste the ‘fruits of Credit’, many now are joining the younger ranks and buying this way, the ‘white’ goods are being sold on credit, motor car sales are rising and their tastes are changing to those of central Europe.

Fortunately 80 % of the population have and possibly will not join the credit hungry young and that will help keep the charm of the country for a few decades to come. 

Property prices are rising and as with all property markets they are nearing levels where they must surely take a breather as the comparative prices in Central Europe are close to those of Romania. So caution needs to be exercised when buying property now, yet many good properties are still available. Which brings me to Montenegro.

When I felt that prices had become or were near to being at the maximum price I looked at the other markets near Romania.  Serbia and Montenegro with their recent difficulties offered good value with the Mediterranean to boot in Montenegro. Prices are also rising there, yet they are considerably lower than the 1000 Euro per square metre range that now exists in Romania. 

My advice to those interested is that they should take the trouble to travel and spend their next vacation in both Romania and Montenegro and see what the countries look like. I am sure they will be very surprised at what they see.

Don’t jump into a property purchase now, wait for the markets to cool off as they will in a couple of years to come.

Should you wish to know more as to where and how to explore this area, contact me and I will be pleased to help you. Click Here to send a email to the author of this article.