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From Romania to Teesside

Date 19 Jul 2007

An East Cleveland-based teacher, originally from Romania, has established a new property company on Teesside to help people invest in both holiday homes and commercial property in the EU’s newest country. Radu Iftode, who moved to the UK seven years ago and has been teaching maths at secondary schools on Teesside, has launched Romanian Quality Living (RQL), which is the British branch of a well-established Romanian estate agent.

Radu has invested over £15,000 in the new Teesside company, which is based in Saltburn-by-the-Sea, and has spent the last five years carrying out research into the growing popularity of the Romanian market for UK-based investors. The business aims to provide assistance to people wanting to invest in the Romanian property market, with properties in Bucharest, ski resorts in the mountains, and beach resorts along the Black Sea coast.

Radu said: "Now is the ideal time to invest in Romania as the market is buoyant thanks to joining the EU earlier this year. The country is becoming a popular holiday destination as more low-cost airlines offer flights from the UK, which take around two hours. Romania is a truly interesting prospect for investors who can expect to see a good return on their investments if they get in early while property prices remain lower than in neighbouring countries. "The demand for residential and commercial property in Romania is increasing rapidly as it’s predicted that, in the coming decade, the economy will expand significantly faster than its other European neighbours."

For more information about RQL, visit

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