Doi Mai


? Parcels of freehold land for sale near to the Romanian black sea coast

? Secure title

? Offer price for rapid sale ?27/m2

? Plots available ?25,000 to ?150,000 (depending on size and location)

? Planning permission application in progress for the section of land inclusive of these parcels

? One of the last sections of land with views of the coastline available in Romania

? The land is a few hundred metres from a junction of a proposed motorway.


The Opportunity

Most agree that the stretch of Romanian coast line containing the villages of Doi Mai and Vama Veche, is on the verge of rapid development. Almost all available land in the area has been bought and a surge in the granting of residential and commercial planning permissions is underway as private and corporate developers prepare to break ground. Mayor Nicolae Udera (of Limanu) publicly welcomes development in the region.

The section of Romanian coastline stretching from Mamaia to Vama Veche, is 245km in length and includes the largest towns in Constanta County (Constanta and Mangalia) and almost all seaside resorts, Mamaia, Eforie Nord, Eforie Sud, Costinesti, Olimp, Neptun, Jupiter, Cape Aurora, Venus, Saturn, Doi Mai and Vama Veche.

Focusing on Doi Mai, domestic tourism is the principle factor driving investment. Romanians and especially the new Bucharestian middle classes; famously disappear to the coast for short breaks at weekends,
Doi Mai is already a popular destination with its sandy beaches and clear sea water.

Newly available finance deals have been snapped up by this emerging affluent class, pushing up demand for holiday homes in all coastal regions of Romania. The area is made even more attractive by a huge increase of Government investment in the region (aimed at attracting international visitors), as well as readily available EU funding earmarked for modern infrastructure.

A good deal of this European money has already been invested in motorways, utilities and international publicity. What?s more the Open Skies Policy 2007 has recently brought the first international commercial air routes to Constanta International Airport, just 73km from Doi Mai. As of 2008 budget providers service this airport, as they already do Varna (119km from Doi Mai


Doi Mai ? Overview

Doi Mai is a village (the Limanu commune) on the Romanian Black Sea coast, just south of the port of Mangalia and 6 kilometres north of Vama Veche, at 28.34 E longitude, 43.46 N latitude.

The name seems to originate from the date the village was founded (2nd May 1887) by the prime-minister of the time, Mihail Kogalniceanu. It was founded by families of Russians who had escaped from religious intolerance in their country of origin.

Doi Mai has mirrored its neighbour Vama Veche as a non-mainstream tourist destination, especially since the Romanian Revolution of 1989. However, due to the closeness of Mangalia and its port, Doi Mai is more developed than Vama Veche and has a larger population. Tourist accommodation is provided by local families and in the last fifteen years numerous holiday homes and villas have been built to accommodate the burgeoning tourist trade.

The beaches of Doi Mai stretch from the South Dam of Mangalia Commercial Harbour to the beach at Vama Veche. The beach has excellent sand quality and crystal clear blue waters making it extremely popular.

Development

Around 25% of new residential developments in Romania are located along the country?s coastline. The developments are comprised of condominium projects, blocks of flats (mainly in the North seaside resorts - Mamaia, Constanta, Eforie Nord and Neptun-Olimp) and villas or holiday houses (in the South seaside resorts ? Costinesti, Doi Mai and Vama Veche). New developments never meet the demand however and most enterprises are usually 80% pre-contracted at the off-plan stage.

The potential exists for substantial hotel and tourist development all along the 245km of Black Sea coastline. Medium and large plots of land are being targeted by developers for residential projects. These buyers pay a premium for land that is near to the sea or that boasts sea views.

The most concentrated development in the last 15 years has been seen in the Southern area of the coastline, towards the Bulgarian border, particularly in Vama Veche where most buildings are no older than 15 or 16 years.


Infrastructure

Along the length of the (relatively short) Romanian Black Sea coastline, infrastructure is continuously changing in order to meet with EU standards and to aid development in the area.
The site in question enjoys good access to two main local roads, being bordered to the north by the D327 road and to the south by the D411 road, which is expected to become the road servicing to Doi Mai?s motorway junction. Both the D327 and the D411 lead directly to the beach.

The electricity network is well-developed, with three-phased aerial lines running parallel with the road; a two-phased electricity network would provide enough electricity for every household and business in Vama Veche and Doi Mai.

Water mains run about 700m to the west of the DN39 coastal road and are therefore directly accessible from the plot. A secondary water pipe actually crosses the land from the north-west to the south-east. This means that the plot would be significantly quicker and easier to develop than comparable plots, whilst still offering excellent road access.


Industry

The County's economy is underpinned by agriculture, food, tourism, industry and trade. Agricultural activity covers 80% (568.358 ha) of the total county area. The climate is best suited to cereal crops and technical plants. Vine-growing is also very popular, the most significant and well-known vineyards are Murfatlar, Medgidia and Ostrov.

Transport

The main road through the village is the DN39, which links all the coastal towns and villages from Constanta to the border. When the motorway (whose construction benefits from EU funding) is built it will be situated between 2 and 3 kilometres from the coast, running parallel with DN39. The nearest petrol station is in Mangalia, 4km away. A second petrol station, not yet up and running, is about 8km to the south, toward the Bulgarian border.

The nearest train station is in Mangalia, a 15 to 20 minute taxi drive away, the
nearest international airport is 73km away in Constanta. Varna International
Airport in neighbouring Bulgaria is about 119km away.

Amenities

There are plenty of shops in the village, catering for locals and tourists.
In the holiday season, countless beach shops are set up, selling everything from food to swimwear and books.

The nearest hospital is in Mangalia, a 10 to 15 minute drive away and Constanta, 45km away, has the best hospitals in the whole region.


Anticipated factors affecting value in medium term

Interest in Romania is growing fast amongst people wishing to own property or time shares on the Black Sea Coast.

The Bucharest to Constanta connection already enjoys the best section of motorway in the country, when improvements (currently underway) are completed together with its connection to Bulgaria; development in the area is expected to increase exponentially.

Currently it takes between 4 and 5 hours to travel from Bucharest to Doi Mai but this figure is set to reduce by over 50% when the new road is in place, making for an easier and more comfortable trip.

There?s also a high-speed rail link planned from Bucharest to Constanta as well as vast i

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