In times where the credit crisis is hitting seriously real estate markets in the world, things look ever better in our northern neighbour Romania, writes Europa.re.

According to data issued earlier this month, the growth of Romanian economy for the first quarter was truly remarkable - 8.2%. This is nearly three times more compared to the EU average of for the same period.

These truly impressive evidence of Romanian economy are a real magnet for foreign investors. One of the most developing sectors, and perhaps the main motive force behind this economic upsurge, is the construction sector.

The growth in this sector has been nearly 32% since the beginning of this year, driven mainly by increased demand for properties, and the development and introduction of foreign investors in the sector.

Lately, foreign direct investment in the sector are increasingly supplanted from the capital and are targeting the smaller towns in the country.

Created production capacity by the Finnish giant, manufacturing Nokia mobile phones, which invested nearly 200 million euro in town of Cluj, and some other large foreign direct investments are among the biggest deals.

With prices of real estate which are still relatively lower compared to the average in Western Europe, the moment for investment in the sector is more suitable than ever, say economic analysts from our northern neighbor.