Romania is tipped as the next european property hotspot with impending EU membership and the box office blockbuster 'Cold Mountain' filmed in Romania adding to the hype.

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British Embassy Bucharest Excellent website for those looking to travel, live or conduct business in Romania Click here >>>

Romanian Tourist Board First rate website to find out all about this country Click here >>>

What is all the fuss!
You may have heard of film star celebreties Jude Law and Nicole Kidman and their recent collaboration in the film blockbuster 'Cold Mountain'. This film receiving worldwide attention was filmed in Romania and the sweeping beautiful scenery has raised the profile of this Country dramatically.

Emerging EU membership
European Accession for Romania is set for 2007 and based on previous examples property is tipped to rise by up to 50%. Laws have previously caused difficulties for foreigners from owning property in Romania but in line with EU policy, this will soon be changed.

Foreigners including many Britons have been buying via forming a company but the costs have put some off. Those who have bought, whether for business or pleasure, may well be eagerly awaiting a substantial boost in their property values.

Is Romania the next Spain for Property?
30 years ago Spain was virtually unknown to the British holiday maker and property investor. The areas of this country that we are now most familiar with such as the Costa del Sol were literally a string of fishing villages.

Now while most would not like to see a country so beautiful as Romania become one great tourist building site those with an eye not just for a potential bargain but a wonderful second home may soon start to explore the opportunities.

Typical overseas property hotspots such as Spain, France and Portugal have seen dramatic rises in property values. And for areas that have proven popular for foreigners to buy in such actions have made the possibility of a dream holiday home (or move abroad) more elusive.

Breathtaking Romania
Air fares to Romania are inexpensive and this combined with affordable hotels and sundry costs such as travel, eating out and generally enjoying oneself make the country a low cost holiday option.

But what really attracts the visitor to Romania (and back again!) is the stunning countryside, rural lifestyle, friendly locals and a generally relaxed pace. The skiing is enviable without chaos on the slopes and villages, hotels and resorts provide some fascinating architecture.

Mortgages for Romania?
For those looking to purchase a property in Romania the most typical route (to date) for raising funds has been remortgaging or equity release on the primary residence in the UK. Such a process is common, straightforward and uncomplicated.

As always when purchasing a property abroad one needs a good understanding of the laws and processes that apply to that country as they will certainly differ from the UK. This is the case with Romania so good, impartial advice regarding the purchasing process including all legal aspects is vital.

How can we help? Find out now.
Call one of our team on 08704 28 28 29* for impartial and invaluable advice on all of the topics discussed here. We specialise in overseas mortgages and related advice. Alternately do please contact Paul Fletcher by email.

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