Romanian daily Ziarul Financiar reported that several foreign investors in Romania who had bought apartments in early stages of development, were putting those apartments up for sale at a significant profit even before construction had finished.

In one case, 42 sq m studios which were sold for 50 000 euro plus VAT in the autumn of 2006 when construction started, were now being put on the market for 107 000 euro, VAT included.

According to the Ziarul Financiar, the one Spanish investro had put up 27 flats for sale in Asmita Gardens, Rose Garden, Platinum Towers, Residenz and Quadra Place, all in Bucharest. Larisa Coman, real estate broker at Expert Grup, told the daily that the agency was also offering another 80 apartments in new developments, all owned by two foreign investors.

Ziarul Financiar quoted unnamed real estate consultants as saying that half of the new apartments sold on the local market in early development stages, were owned by investors that intended to either resell at significant profits of let out the apartments to individuals.