Hello, This looks like a pretty nice deal in Bucharest. Well done! The price per square metre is very reasonable indeed. In fact there is hardly anything in Cluj now for under 1000€ per sq m and Bucharest is the capital after all! And in Warsaw there is little for that kind of money per square metre. The good thing about Bucharest is that there are higher rental prices too than in other places, for example higher than in Poland for sure! If I had the cash I would consider buying into this because for me Bucharest has great potential and its a pity that people who haven´t actually visited the city cannot appreciate that. This is just a personal view cos I visited the city in August and for me with low capital gains tax, Romania is a no-brainer now. Regards, Liam

I have pre-registered and though I am very unlikely to take part (finance and LTVs) because I prefer the Czech Rep this looks like a brilliant deal, very akin to the Old Brewery and Avenium in Prague and I think it has high Capital growth and rentability written all over it.

Him Was wondering if you guys could explain how Romanian properties are normally priced. The norm in Czech and Poland is for the price per square metre to be advertised based on the internal size of the apartment, black finish (not sure whether VAT is included - for Poland I would love to know). For the current deal in Romania, the price of E1,130 per metre relates, as far as I can see, to the external built area (ie including the walls, which is a bit of a cheat), the balcony and the common areas (which means the parking space?). This means that a 57m2 flat is actually charged at over 80m2! If this is the norm in Romania, then fine, I just have to get my head around it but I have to say I was quite surprised: not least because it makes the flats more expensive than I might have thought. Mind you, very interesting development...

Richard you also need at add VAT to compare it with other countries. If you do the calc of internal area and price the external area at 50% of the internal area it comes out at around Euro 1,900 psm. The common area excludes the parking space. I agree it's a great location - the obvious place to set up an international HQ with an airport on your doorstep but still just a couple of miles from the centre of Bucharest. Request to PS : it would be much easier for people to digest the numbers if you showed the 3 currencies ( Euos , RON, GBP ) on 3 separate workseet tabs instead of having them on the same spread sheet.

Hi Richard, Thanks for the post. You are right, in Romania the price per sq metre is worked out exactly as you suggest with the total square metres against the price ex VAT. This is the norm in Romania and I admit it is different to Poland and Czech and can be slightly confusing. In Poland the price is worked out against the price ex VAT. I hope that helps? The City Lights investment is proving very popular already so if you need any help please email me your questions and Kim or I will respond as soon as we can. Kind regards, Martin Grainger Head of Portfolio Development purchasesupport@propertysecrets.net

Martin, Couple of comments on your spreadsheets - 1) Sometimes the exchange rate is not accurate. The latest Gdansk one had a rate of 5.67PLN/£ or so which isn't current to the 5.2PLN/£. 2) Can you split the currencies as mentioned as the whole sheet is a bit confusing. Thanks, Tom.

Hi Tom, The exchange rate is currently 5.62 so is not far off. It was at 5.65 when we put the spreadsheet together. Im not sure where you have got 5.2 from?? We have looked at a number of alternatives with the spreadsheet but find this is the best way. This is the first time we have had RON on one of our spreadsheets. If you want to discuss on a one to one basis I am more than happy to oblige. Kind regards, Martin

Surely it would be better to adjust to a consistent formula for your audience for easy consumption and assessment? Huw

Martin I think your information is out of date, if not I would be very keen on knowing where you are getting quotes of 5.62 from. I am currently getting quotes of just over 5.05 PLN. Regards Alan

Apologies all round guys, it seems I am using the wrong website, or at least I wont be using it again; its very out of date. Sorry!