Property writer: Bucharest is a centre of bohemian culture
Property investors have been advised to take a look at Bucharest by one overseas property writer, who cites its status as a centre of bohemian culture and cheap real estate prices.
Writing in Country Life magazine, Holly Kirkwood noted that although Bucharest is a more affordable than other places like Dubrovnik, the market is based more on apartments rather than houses, which are more common outside the Romanian capital.
She also said that there is a mix of properties - while standard apartments are relatively cheap, there are also more "opulent" properties available for larger sums of money.
"Some of these houses are new, because a fifth of this city - once known as 'little Paris' - was bulldozed, thanks to former President Nicolae Ceausescu's vision of urban development," explained Ms Kirkwood.
However, she concluded by saying that the contrast between the "grand, decaying communist architecture" and the remnants of the city's 'little Paris' is part of the appeal of Bucharest.
Recently, the Ziarul Financiar news provider revealed that the price of an average three-bedroom flat in Bucharest grew by 4% during March alone.
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