Real Estate in Romania – subject to discussion for international investors
Romania is on the map for the truly important, foreign investors. For the first time in Romanian real estate history, our country took part in the MAPIC exhibition – the real estate and retail fair organized in Cannes, one of the most important in the world. Not only did Romania have a stand there but some of the most important business people in the country went there, trying to convince the heavy players to place money in Romania.
Romania, although a country that enjoys many benefits, is unknown to many potential, international investors. And for those that have heard of it, there is a certain degree of fear. Our country is seen as a Wild West for any kind of development. This is why many Romanian professionals were present at MAPIC, in order to attract confidence or at least make our country’s name known.
“It’s the first time this is happening, which means that we are being included on the map for foreign investors, with a different dynamic. Now, if there is also a panel dedicated to Romania, whoever comes at Cannes, to the biggest real estate and retail fair in the world, will know that we are on the market, we have advantages and we are worth their interest. This is something that has been lacking in the past and has hit us quite hard,” the initiator of this movement, Ilias Papageorgiadis, CEO MORE Real Estate Services, has said.
Changing the negative perception about Romania – one of the biggest challenges
The mission of the group that represented Romania at Cannes is not an easy one. Aside from the strategic advantages Romania has, like the access to the Danube, seaside port or the easy access towards the West, there are also problems connected to bureaucracy or the difficulty to develop a large business here.
“It’s very difficult to convince investors. This is because if you are foreign and search for news about Romania, 70% of them are negative. We have to change this, through work. At an institutional level, perhaps we can’t change much, But we can change things at a personal level, Here we had the chance to promote ourselves, to explain things at a high level, with professionalism, in order to put across what Romania is, why it’s interesting, why investors should come here and what are its advantages and disadvantages,” Papageorgiadis added.
To sum up, the main features promoted by Romanian representatives at MAPIC were:
· Romania is one of the only countries in Europe where the consumption rate went up in the last nine months of the year
· Romania is a country that still has room for development
· Romania, in the following two years, must absorb millions of euro worth of European Funds
· Romania must develop its high-street segment that at the moment is not exploited to its full potential.
“It’s not an easy market, it’s not for everyone. You need to be well prepared but, ultimately, in these times of crisis, Romania does have advantages. There are faults as well but if we were to draw a line, the advantages outweigh the disadvantages,” Papageorgiadis concluded.
source: imopedia.ro – 28th of November 2011