An increasing number of overseas property investors have turned their attention to Romanias booming property market.

Land prices in the former soviet republic have risen by an astonishing 700% in the last year, according to Romanian estate agent Chindia Estates. "For those wishing to make a shrewd and early move, Romanian land investment offers a truly exceptional opportunity," commented Chindias Dave Wellen.

In April this year Romania signed a treaty to join the EU in 2007 and entered NATO last year.

Chindia Estates claims that house prices in Bucharest, Constanta, Brasov, Cluj, Timisoara, Oradea, Ploiesti and Targoviste rose 40% in 2003/4. Yet property prices remain relatively low, with property prices starting from as low as £20,000.