Forget Spain: Go to Romania, say experts

Investors are tipped to try Romania instead of Spain this year by property experts.

Schoenherr Lawyers highlighted less established markets, including Bulgaria and Romania, at the IPD/Property Investor Europe Central and Eastern Europe Conference last week, noting that banks have large real estate portfolios to sell.

Prices will fall, predicted the lawyers, making the Romanian market more attractive to Western Europe's more familiar alternatives.

"It's going to be very dynamic and volatile, a very exciting investor atmosphere," partner Denise Hamer commented.

Office properties in Bucharest were also highlighted by an Austrian firm, reports Property Showrooms , following high demand for a new shopping mall in Ploisesti announced last month.