November 5, 2015     Florin Dumitrescu

Romania’s housing market is heating up strongly, despite the political crisis

Romania has a long history of corruption and of protests against corruption, and Prime Minister Victor Ponta, who himself faces trial for corruption, has just resigned after some 20,000 people took to the streets in protest against a Bucharest nightclub fire.  But is this “same old, same old”?

Maybe not.  The fresh face in national politics is president Klaus Iohannis, elected in November 2014.  Previously mayor of Sibiu, he turned it into one of Romania´s most popular tourist destinations. His popular appeal is as outsider to the country´s corrupt and warring political elite, although he briefly became president of the National Liberal Party during June-December 2014.  Highly critical of Ponta, he is vocal about the need to curb Romania´s endemic corruption.

“In my opinion, it is much more than a mere government change,” said Iohannis of Ponta´s resignation.  “I believe we are talking about a paradigm change in the Romanian politics and I believe it is good…”

This potential sea-change in politics has coincided, largely by chance, with an economic upturn.

The Romanian economy is expected to grow 3.4% this year and by 3.9% in 2016, according to the IMF. Romania’s economy grew by 2.8% last year, after GDP growth of 3.4% in 2013. Citeste continuarea Romania’s housing market is heating up strongly, despite the political crisis

July 12, 2014     Florin Dumitrescu

World through London’s eyes

Farmland values across the globe

The capital appreciation of farmland value is the main component of investment performance. This is tracked by our Global Farmland Index* launched in 2012 with values to 2010. Where data is available the Index now reports values to 2012.

Across the world farmland values continue to grow. Our Index shows an average global annualised growth since 2002 of 20%. This growth was fairly steady apart from a slight softening during 2009 and 2010 when there was a correction in the exceptional rates of growth in some of the mature markets, notably Ireland and Denmark. Capital values here have subsequently stabilised and are beginning to show positive growth.

Since 2011 capital growth across all markets has regained its previous momentum. Evidence, real and anecdotal, shows that this trend has continued into 2013 and we expect positive growth to continue in the short to medium term.

Key points from our Global Index:

• The highest growth rates were recorded in the emerging markets of Romania, Hungary, Poland, Zambia, Mozambique and Brazil. We expect this to continue.

• Average farmland values in Romania grew by 40% per year – double the average annualised growth and was the fastest growth of any country since accession to the EU.

• Hungary and Brazil recorded annualised growth of around 25%.

• Polish farmland values recorded steady growth over the past 10 years, which has continued since the initial rise post accession into the EU in 2004.

• For the mature markets growth has remained healthy, from over 7% up to 20%, especially when compared with alternative property assets.

Africa

The farmland market in Africa is limited and immature but it is developing rapidly and we are regularly reviewing market data from this region.

Recent comparable evidence in Zambia, where several farms came to the market in 2012, suggests that capital growth can typically range between 20% and 60% per annum discounting value uplift related to infrastructure improvement.

This is highly variable and growth is specific to individual farms and locations and depends on the stage of infrastructure development, size, layout, water availability and operational performance. There is clearly demand for the premium product with proven operational capacity.

These include well established farms in the areas which have good external infrastructure, for example in the farm blocks of Mkushi.

Citeste continuarea World through London’s eyes

March 3, 2012     Florin Dumitrescu

E mica frate, e mica… abia ti se vede

Statisticile spun ca e mica si ca se va micsora in continuare… despre piata imobiliara vorbim. Luna februarie 2012 a inregistrat cel mai mic numar de oferte din ultimii 5 ani, pentru aceeasi perioada a anului.

Lipsa de lichiditati (mai exista doar cativa saci cu bani pe la un zgarcit sau altul), blocarea completa a creditarii (bancile subventionate de guverne neghioabe zeci de ani nu prea suporta economia de criza), neincrederea in piata (cu o populatie panicata de mass-media de duzina), incertitudinea locala (nationala a se intelege, datorita alegerilor penibil de neeconomice ce se apropie, pentru a se intelege si mai bine), incertitudinea globala (prabusirea europeana, mai concret, prinsa intre interesele de lobby ale marilor banci si necesitatile electorale de natura sociala), toate astea prelungesc agonia unei piete cladita dintr-un inceput prost.

Pe aici, local, micro… nu prea avem ce face… asteptam.

Cea de-a doua luna a anului 2012 vine cu un record negativ pe piata imobiliara: cel mai mic numar de oferte inregistrat pentru aceasta perioada in ultimii 5 ani.

De altfel, exceptând luna decembrie când, pe fondul Sarbatorilor si al concediilor, numarul de oferte este an de an unul redus, in februarie 2012 s-a atins minimul absolut din 2007 incoace.

In aceste conditii, preturile medii solicitate de proprietari in februarie nu au inregistrat modificari semnificative.

January 8, 2011     Florin Dumitrescu

Spaghetti Connection sau cand UE ia …

Daca credeati ca noi, romanii, suntem aparte si ca ne ocupam doar de fraude sau alte faradelegi, ei va inselati. Curtea Europeana de Conturi publica anual un raport relevant privind cele mai spectaculoase fraude cu fonduri europene.

Si iata cateva exemple:

Un dentist din orasul italian Cosenza a cerut bani UE pentru o afacere cu panouri solare – care nu a vazut niciodata lumina zilei. In schimb si-a cumparat un Ferrari Testarossa galben (in valoare de circa 200.000 euro), o masina de Formula 1 si alte 55 de alte masini de lux. Cazul dentistului a facut parte dintr-o schema de fraudare mult mai ampla, cifrata la aproximativ 80 milioane euro, in care patru companii au deturnat fonduri comunitare timp de patru ani.

Si sa tot ne minunam… cititi mai departe

Revista Ta de Educatie in Imobiliare si Constructii

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Florin Dumitrescu Linked In

Eu sunt Florin Dumitrescu si cred ca am o mare doza de naivitate si idealism. Idealism si naivitate. Desi pare o prezentare tinuta la Asociatia Idealistilor Anonimi, de fapt nu e decat o justificare, poate neverosimila a crearii acestei reviste. Da. Am creat aceasta revista in speranta naiva de a indrepta lucrurile (care trebuie sa recunoastem, nu merg foarte bine) in afacerile imobiliare.

Cere sfatul nostru

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