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  • UNITING LOCAL COMMERCIAL Real Estate Experience with Global Execution
  • DELIVERING RESULTS Through Collaboration & Integration

Romania

    Romania

    Romania is an upper-middle income country economy and has been part of the European Union since January 1, 2007. Romania's main exports are clothing and textiles, industrial machinery, electrical and electronic equipment, metallurgic products, raw materials, cars, military equipment, software, pharmaceuticals, fine chemicals, and agricultura

    l products. Trade is mostly centered on the member states of the European Union, with Germany and Italy being the country's single largest trading partners. Government intervention in the Romanian economy is somewhat lower than in other European economies. In 2006 Romania instituted a flat tax for both personal and corporate income, allowing it to grow its private sector very rapidly since.

    Rental rates in the primary Romanian markets have held steady despite the downturn in demand and a continued low amount of new supply. Investment flow has decreased more substaintially as it is predicted that occupier interest and rental rates will soon decrease due to economic conditions. Supply is expected to rise during 2009 and Investors are having a harder time securing free capital, so it is predicted that both the rental and purchase markets will continue to decrease for the foreseeable future.

     

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