Real Estate In Romania

Romania is located in South Eastern Central Europe, is the 9th largest country among the European Union member states and has a population of 22 million people. It borders on the Black Sea and its capital city is Bucharest. The property market in Romania is considered to be the most profitable among all European property markets.

Romania has benefited widely from its EU membership and has attracted a lot of foreign investment which has led to the country making significant economic progress. This naturally means that the housing and real estate market is booming and huge profits can result from any investment in this area. The starting prices are quite low and promise substantial returns over the years. This sector has attracted a lot of overseas money with property dealers all over the world looking for a piece of the action.

As the starting rates are low, even small investors are coming into the property market and buying apartments, which can even be bought in stages while the buildings are under construction. This property can go right back on the market once the construction work is completed and huge profits can accrue. Investment is also being attracted to commercial property and tourism ventures that are really attractive, because tourism in Romania is considered a sunrise industry.

The Black Sea coastline, over 200 kilometers of it, is largely underdeveloped, but its stunning shorelines are attracting a lot of tourists and as a result, giving rise to a tourism real estate market of hotels, resorts, villas and construction suited to the hospitality industry. Romania is also fortunate to have inland a number of winter ski resorts whose tourism potential is only now being exploited by real estate developers, and any property purchased can easily be lent out to tourists. A lot of British, Russian and east European citizens are flocking to Romania to buy second homes, or properties for investment.

The countryside is stunningly beautiful and the area of Transylvania has a lot of castles and houses with medieval architecture and also farms are up for sale. A lot of tourists are simply enamored by the ancient and romantic surroundings of these castles and will pay well to stay for a few days in such locations. So if you do invest in one of these castles to increase your real investment portfolio, you could look for definite returns by way of rentals, and definitely a lot of appreciation in the value of the property over the years.

Buying an apartment in Romania implies also buying the land or part of it on which the building stands. This stricture requires that you have be a legal resident of Romania or have a Romanian company buy it for you. This is a law applicable to members of the EU, and for citizen of non EU countries, they can buy property or land only if their country allows similar rights to Romanian citizens. You would do well to assess the legal position before committing your self to purchase property in Romania.