IMF expert highlights high rental income of Bucharest
"A representative of the International Monetary Fund (IMF) has expressed his "surprise" at the rental revenues on offer in Bucharest, a recent report has revealed.
Fernandez Ansola, the IMF's representative for Romania and Bulgaria, said he found that rental prices in Bucharest are higher than in other countries in the region - something he did not expect.
Experts cite an excess of demand for property as the primary reason for increasing rental returns for property investors - creating prices in excess of some other major European cities, the Ziarul Financiar news agency reported.
Indeed, Mr Ansola told the Microfax agency of an anecdote involving a friend's search for property in Paris: "My friend rented a property at the same time as me, but in Paris, near the Arc de Triomphe, and rented for a lower price than my property [in Bucharest]."
Recently, Ziarul Financiar reported that the average 3-bedroom flat in Bucharest grew by €55 (£37) per m2 during March, representing a 4% increase.
Indeed, some parts of Bucharest saw prices rise by as much as 10% over the month."
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