Is Romania attractive for commercial property investors from a regulatory perspective?
Published in Real Estate Guide 2021 by Business Review
Vlad Tanase, Partner in NNDKP’s Real Estate practice has contributed to the latest edition of the Real Estate Guide published by Business Review, paper that tackles the major insight into Romania’s Property Market in 2021.
- Romania is still one of the most attractive markets in Central and South Eastern Europe, with one of the biggest potential for development.
“Secondary cities in Romania are becoming more and more a hot market and if we look at neighboring countries we will see the potential of secondary cities and the boost they can bring to the economy.
Although there is still room for improvement from a regulatory perspective, which could further enhance Romania’s reputation on the real estate market, we have never felt that regulations have represented a no-go barrier for investors.
Of course, discussions have begun recently especially regarding agricultural land and the impact of agricultural restrictions on other industries such as renewable energy, but we do believe that these will be solved in the near future. We expect a similar outcome (remedial legislative actions) on soil quality certificate which have been enacted without the possibility to actually implement the requirements in practice.
But, despite all these aspects, considering the size of available land, the potential for growth is immense and we expect that all issues will be ironed out sooner rather than later.”
The full report prepared by Business Review’s editorial team is available here.