Bucharest’s Old Town, A Mosaic Of Restaurants And Ruins, Is Worth Over EUR1B

06.07.2011 ZF English

The 57 hectares of land that accommodate Bucharest’s old town can be valued at around EUR1 billion, based on the average price of EUR1,500 to 2,000 per square meter in the area, but the number of transactions is low for at least two reasons: many owners prefer to rent out the spaces in the only area of the city where rent levels have not been affected by the crisis, whilst other properties have an uncertain legal status, so potential investors are reluctant to buy.

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