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Romania 'popular with foreign buyers'

Romania is proving to be an increasingly popular investment option among foreign buyers, according to one resident.

US expat Anthony Raftopol told the New York Times that people from Germany, Austria and the UK had invested in the Romanian market in recent years.

He cited numerous reasons for the country's popularity with overseas property buyers, such as fast growth in its economy.

In addition, he said that property values had been steadily increasing during the last few years and were still going up.

Mr Raftopol commented: "Prices have exploded here - the boom in prices should continue for a decade."

He added that values had been driven up further by the shortage of available properties in the midst of high demand, although he said that more homes were being built.

This comes after the American Automobile Association said that Romania was growing in popularity as a tourist destination, especially among people from the US.

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