Property in Romania

Economic growth in Romania outpacing the EU average


Economic growth in Romania is outpacing the EU average, according to new statistics.

According to Eurostat, the eastern European country saw its gross domestic product go up by 8.2% during the first three months of this year.

This is more than three times the amount that was recorded across the EU as a whole during the same period.

In addition, the figure is also up from 6% in the first quarter of 2007, which was Romania’s first year as an EU member.

According to finance minister Varujan Vosganian, this trend has been driven by growth in the construction and service sectors.

This suggests that the growth of tourism and overseas property investment is having a positive impact on the Romanian economy.

Property in the eastern European country is currently in high demand.

This has led to supply being fairly restricted, which in turn has made available properties much more highly sought-after, thus increasing their prices.

Date posted: June 9, 2008