Has anyone who has been to Bucharest confirm the property values as presented in the West Park report?They seem very high - particularly the cost per m2 of old communist apartments. Also, I wonder if we are comparing like with like (does the price of new builds include VAT and parking etc.)The report claims that west park is 1275 euros per m2, although in the prices in the spreadsheet seem much closer to 1600 euros per m2.Most fundamentally, I find it hard to understand how native Romanians could come anywhere near to being able to afford these prices. Is it not possible that developers have anticipated the interest from western investors (aware of Romania's imminent membership of the EU) and have set the prices accordingly?Of course, my knowledge of property markets is incomplete, so could anyone help me out?Thanks.

My limited experience of Bucharest is that it's not as "poor" as you might imagine - hotels are expensive and flights are expensive and both tend to be booked up. Now whether this is catering for large multinationals shipping in staff to set up offices in Romania, or whether there's more money about than you realise, I don't know.Out of interest, were the appts you were offered at higher or lower prices than the PS deal? I think PS typically reserve more than they offer, so there should always be some left over, and I was under the impression that Quadra Place sold out. It would be interesting to see what has happened to the prices of those remaining appts.Andrew

AndrewJust wonderered why PS would reserve more units than they offer, what would this achieve apart from annoying the developer.Alan

I did check how the prices compared to PS, and they looked roughly the same.They were pushing the underground parking spaces which are amazingly expensive, but I emailed and there were overground spaces (as offered by PS) still available.If you do a search for 'bucharest' and 'the quadrant' (that's what they are calling the development) you should find it.

No - there were apartments that appeared on the PS offer - so I have to assume they did not all sell.Its nothing to worry about though. I assume that most PS offers do not sell out.The thing to worry about is whether they were priced for foreign investors rather than locals.