Could bucharest old town become a property investment hotspot?

The Old Town district of Romania's capital Bucharest is in need of refurbishment, with foreign investors showing an increasing interest in properties in this area of Romania.

Speaking to Romania-Insider.com, chief executive officer of More Real Estate Ilias Papageorgaidis noted that approximately half of the buildings in this part of the city have yet to be renovated.

He explained that of the properties that have been refurbished, the majority were converted for leisure use, with a small percentage accounted for by retailers.

However, Mr Papageorgaidis is not overly optimistic about new investment flooding into the district any time soon.

Source: PropertyShowrooms.com