Retirement in Romania
No Dracula…but Romania more than makes up for that…it has gorgeous cities like Bucharest and Sinaia--the former being the exquisite, gothic Romanian capital, the latter being the “Carpathian Pearl” and the summer residence of the Romanian Royal family. In Sinaia, the Neo-Renaissance Peles Castle is one of the best-preserved in Europe… You can hike or ski in the Transylvanian Alps (the Carpathian Mountains).
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- Population: 21,790,479
- Capital City: Bucharest
- Climate: Temperate, cold winters with snow, hot summers with thunderstorms
- Time Zone: GMT+2
- Language: Romanian, Hungarian
- Country Code: 40
- Location: Southeastern Europe, bordering the Black Sea, between Bulgaria and Ukraine
Bram Stoker never visited Transylvania. Instead, the Irish-born novelist relied on dusty old volumes from London’s libraries and second-hand stories from Ármin Vámbéry, a Hungarian writer and traveler with whom he was well acquainted, to inspire and inform his neck-biting masterpiece, Dracula.
Romania acceded to the European Union back in 2007… just in time for the global financial crisis to bite it in the neck. GDP growth, which at a robust 6% to 7% during the previous few years had been among the highest on the continent, promptly collapsed. The economy contracted by a whopping 6.5% in 2009 and remained in the red the following year. It’s been in a state of tentative recovery ever since.
Major infrastructure improvements for Nicaragua Word has it that a group of Spanish investors are looking to make major investments on the Caribbean coast. New customs booths are being built on the country’s southern border and construction may start soon on two new airports in San Carlos and San Juan del Norte. On the Pacific […]
If you’re looking to add an Eastern European layer to a property portfolio, there are plenty of reasons why Bucharest deserves your attention.
Wednesday, Feb. 6, 2008 Bucharest, Romania Read more about foreign real estate investing in International Living Postcards—your daily escape Some Romanian-based real estate commentators have made bold forecasts that prices in Bucharest will grow for another 15 years. I wouldn’t dare to make such far-sighted claims, but I do believe the property market will continue […]
Romania’s economy is expanding, in ways and at rates that remind me of Ireland in the 1980s and 1990s, and, as a result, just as I witnessed firsthand on the Emerald Isle, and for many of the same reasons, Romanian’s property prices will appreciate at dramatic clips over the coming five to 10 years. New […]
If you’re looking to add an Eastern European layer to a property portfolio, there are plenty of reasons why Bucharest deserves your attention. Bucharest is the capital of Romania, which only joined the EU at the beginning of 2007. Some Romanian-based real estate commentators have made bold forecasts that prices here will grow for another […]
Saturday, Jan. 26, 2007 Read more about investing in international real estate in International Living Postcards—Saturday Edition Last week, I wrote about investing in Bucharest. A couple of readers who own real estate in Romania took issue with the following statement: “While foreigners can’t own real estate directly in Romania, setting up a Romanian corporation […]
Saturday, Jan. 19, 2008 Learn more about investing in foreign real estate in International Living Postcards—Saturday Edition I was bullish on the renovation market in Bucharest in 2005. But I’m hot on the whole country of Romania for 2008. The market has moved on from renovations…to pre-construction. And forces are aligning to catapult this market […]
Something’s happening on the north coast of Brazil.
A great machine is coming, a machine of property developers and promoters who learned their trade on the costas of Spain, the Persian Gulf coast of Dubai, and anywhere else the European investor cast an acquisitive glance across a border. I know, because I’m a small cog in that machine.
Five years ago, you could buy an 800-square-foot apartment in some parts of Bucharest for less than $12,500. By the end of 2006, buyers struggled to find anything much in Romania’s capital for less than $100,000.
Inside the citadel gate, I’m stopped by three men. Waving a fearsome-looking pike, one is clad in moleskin breeches. His smock-wearing companion beats a drum, while the third—almost dwarf-sized, wearing black velvet and a frilly ruffle—capers around jabbering in various languages. Deep in Transylvania, Sighisoara has witnessed some grisly deeds over the centuries. Mercifully, these […]
Beware the rogue who drives this type of car. The Scotsman told him we weren’t paying anything. Not a single lei. And if he didn’t like it, he could call the police. After that, he spat at our feet, swore a blue streak, then drove off in a rage. I don’t know the exact insult, […]
Be warned. You may find Transylvania’s Bran Castle a $5 disappointment. Although the castle’s rocky perch is spectacular, my garden shed is far more spooky. Unlike here, unknown creatures rustle about the shed’s cobwebby corners. The occasional bat flits overhead at twilight. And it definitely isn’t overwhelmed by hordes of coach tour gawpers fiddling with […]
It’s not just vampires you’ll find in Transylvania’s stories. Ever wondered what became of the children of Hamelin, spirited away by the Pied Piper? This fairytale German kidnapping was the Piper’s revenge after Hamelin’s townsfolk reneged on a promised payment for ridding them of rats. One folk tale says the youngsters emerged in Romania–in a […]
For the fifth year in a row, Panama has taken top honors in our Annual Global Retirement Index. It comes out on top in every category, including the Special Benefits (for retirees) category, boasting the world’s best pensionado program, better than the famed Costa Rica program of the 1980s. Plus it boasts a low cost of living, affordable real estate, great weather in the interior, and, extraordinary and unique in this part of the world, First World Panama City, with infrastructure that works, U.S-style shopping malls, nightclubs, restaurants, cafes…even Dunkin Donuts and The Colonel’s fried chicken.
The world according to International Living: Where should you be thinking about spending your time and your money right now? Following are the top 25 places on our radar screen: