Unemployment here is at just 6%, one of the lowest rates in all of Europe. Combined with a low per-head personal debt, more spending cash, and the introduction of credit an amazing new consumer based society is being built.

Statistics show that inflation is low and GDP is high (three times higher in many cases then in Western Europe) in Romania.

The vision of the Bucharest metropolitan area is quickly becoming a reality. Farmland near Bucharest will soon resemble suburban Detroit or Chicago, complete with modern family homes, shopping complexes, and modern highways. This phenomenon has already occurred in some areas outside of the city limits.

2,000 square meters plots of land can now be purchased in the new suburban district of Bucharest for 40,000 Euro (That about $48,000 USD). That' s about $20 per square meter in a city where downtown prime real estate is going for as much as $2,000 a square meter and property in the currently developed suburban region goes for between $150 and $350 a square meter. Between now and the years proceeding the EU ascension of Romania (analyst predict Romania will join in 2007 -2008 and growth will continue at impressive rates up to about 2010) property prices in the new suburbs should increase at least 30% per year.

The key to realizing profit is to buy land in an area where developers are looking to build in a strategic location, where other like-minded investors have also invested in land. This is where a reputable estate agency comes into the picture. As they usually have direct relationships with developers and have a keen understanding of where to buy, they more then earn their 5% or so commissions.

New structures have now been put in place to allow foreign investors to invest in land without formation of private companies (foreign citizens may not own raw land as private individuals) and the process of forming a company for such a purpose is now a relatively expedited one - when you are working with someone who knows what they are doing.

Deals most absolutely exist outside of Bucharest as well. The long term investor should also consider naturally stunning land located in proximity to up-and-coming ski resorts in Transylvania and incredible bargains at the excellent vineyards located between Bucharest and the aforementioned ski resorts. These opportunities represent excellent investment opportunities but often requires a longer "hold time" on the investment to reap full potential returns.