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Real estate: Bucharest in Top 10 of most attractive real estate markets in Europe
The most attractive ten markets in Europe for real estate investors are Bucharest, Warsaw, Dublin, Amsterdam, Milan, Barcelona, Rome, Madrid, Brussels and Luxembourg, BNP Paribas Real Estate consider.
“While Great Britain, Germany and France represent 80% of the real estate market in Europe, the investors’ interest has grown for the next 10 market: Warsaw, Dublin, Amsterdam, Barcelona, Milan, Rome, Madrid, Brussels, Luxembourg and Bucharest. Last year, several investors chose those markets which offer a growing potential. Thus the investment volume grew by 73% in 2013 compared to 2012 and it is expected to reach 10.4 billion euro”, a BNP Paribas Real Estate report shows.
As for the real estate investment market in Bucharest, the analysts of the French company say it was more active in 2013, setting up positive prospects for investors.“Investors are encouraged by a rental market which proves resistance to shocks and has interesting yields compared to other markets in Central and Eastern Europe. However, the limited access to credits is the main barrier for investments, especially for local ones. In these conditions, demand is supported mainly by foreign funds,” the report mentions.
According the source, except for some exceptions, such as Poland and Romania, European markets from the second echelon, maintain low levels because of a difficult economic environment.
The value of real estate transactions in Romania amounted to 335 million euro last year, on the rise by 10% compared to the previous year.