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Crying out for new blood
Posted by Catherine Deshayes on Thursday, July 16, 2009
Bram Stoker's Dracula, a nightmarish tale of mythical vampires, gothic castles and bloodthirsty midnight feasts, makes it easy to believe that the land of Transylvania is simply the stuff of legend...
Then, two years ago, it was propelled onto the world stage by the news that Bran Castle, Dracula's storybook home, was for sale for the first time for £40 million. The high profile sale led to a surge of new blood into Romania, as many British investors stuck their necks out and made a purchase in unchartered territory.
Historically, Transylvanian village life was based around farming and using horses for transport. The peasants were lorded over by aristocracy, residing comfortably in elegant manor houses, hosting tea parties and dancing.
Today, little has changed. Farming remains the mainstay of the economy, and a strong divide lingers between village folk and the wealthy, of which there are few left.
Romania's economy has been boosted by wine, an increasing amount of which is exported to the UK, and also by tourists, who flock to the ski slopes each winter and return in the summer for hiking. Many developers and agents focus on Romania's Prahova Valley, already a popular holiday destination, offering easy access to Bucharest.
Certain sadness lingers in Transylvania, drifting over the rolling countryside, into every nook of the once glorious manor houses, now rundown and empty, thanks to Communism forcing most owners to flee.
A country overshadowed by its most famous storybook resident, it is crying out for new blood. Romania joined the EU on January 1st 2007, and visas are no longer a requirement to enter for Brits.
Thus far, it has largely escaped the attention of Brits priced out of France and Spain, who looked instead to neighbouring Bulgaria.
Transylvania, Wallachia and Moldavia, the three former principalities that make up the modern day Romania, are hidden from the outside world by the towering Carpathian Mountains.
This setting offers true wilderness, as tramped by Nicole Kidman in the 2003 film Cold Mountain; a remote escape for those seeking rural bliss. Transylvania has been billed as Europe's last example of an untouched medieval landscape.
Low cost airlines now fly to several cities in Romania, with scheduled flights from London Luton to Bucharest.
The Prince of Wales is said to have bought a house in the Transylvanian village of Viscri, complete with outside lavatory. Viscri, standing in the shadow of a grand church, is serenaded by the eerie tolling of bells rounding up farmers from their daily toils. Homes in this remote township can be snapped up for a mere £10,000. The boundless beauty will attract nature lovers and those seeking peace, so a ruined farmstead in a remote village such as Crit, could be the perfect option, costing as little as £5,000.
Those seeking a cosmopolitan metropolis may be better searching elsewhere, although Romania does offer luxurious living; a five-bed villa in the urban city of Brasov recently sold for £1.3 million. Prices such as these remain very much in the minority.
Most rural properties will leave change from £10,000. Don't be blinded by the dirt-cheap prices, as buying in an emerging market such as Romania throws up numerous headaches.
Whilst a foreigner can buy property here, the whole issue of property law remains uncertain, and although EU membership has helped, in the very remote towns, there are few agents and no water mains or sewers, hence Prince Charles' outdoor loo.
So, whilst those hunting for a cheap investment opportunity or holiday home could do far worse than Romania, and may well be attracted by the fact that the country's makeup has not changed much since Bram Stoker's imagination was fired in the late 18th Century, there are issues one would not find in developed markets such as Italy, France or Spain.
Transylvania offers all of the mystery, romance and folklore one would expect from a land so synonymous with a gothic tale. The dense forests, deserted roads, horse drawn vehicles and howling wolves all continue to sing of the legend.
It will be a brave buyer who invests in a place so unknown and alien to the British market, but the current prices and potential returns could be well worth the risk.
If wilderness is what you yearn for, Romania offers a largely untapped virgin territory to sink your teeth into.
Picture by coco_ro
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