Bucharest land prices to see 20% increase in 2008

Land prices in Bucharest will continue to increase this year, up to 20% from last year, according to analysts from the real estate company Colliers International. The average price for land was 650 Euros per square meter in the first half of 2007, up from 430 Euros per square meter in 2006.

Land prices near the capital also increased 40% in the past two years. The ring road and the two highways are attracting developers and therefore nurturing price increases.