Can foreigners buy property in Romania?
Yes. EU citizens have the same rights as Romanian nationals since 2014. Non-EU citizens can buy buildings and apartments directly. Land purchase requires a Romanian company (SRL), which costs EUR 500 and takes 3 days to set up.
How much does property cost in Romania?
Prices vary by city: Bucharest EUR 2,000-2,500/sqm, Cluj EUR 1,800-2,200/sqm, Iasi EUR 1,100-1,600/sqm, Brasov EUR 1,300-1,700/sqm. Rural properties can be found from EUR 20,000-50,000.
What are the buying costs beyond the property price?
Total acquisition costs are 3-5% of property value: notary fees (0.5-2%), Land Registry (0.15%), agent commission (2-3%), and legal fees (EUR 500-1,500).
How long does the buying process take?
Typically 4-8 weeks from accepted offer to ownership transfer. The process involves: pre-contract with 10% deposit, due diligence (2-4 weeks), and final signing at notary.
Do I need a lawyer to buy property in Romania?
Not legally required but strongly recommended for foreign buyers. A bilingual property lawyer costs EUR 500-1,500 and handles due diligence, contract review, and closing.
What property taxes exist in Romania?
Annual property tax is very low: 0.08-0.2% of the tax-assessed value. Rental income is taxed at 10% flat rate (after 40% expense deduction). Capital gains tax is 3% of transaction value.
Is Romania a good place to invest in property?
Yes. Romania offers strong fundamentals: EU membership, 8-12% annual property price appreciation, rental yields of 5-8%, and prices still 60-70% below Western European averages.
Can I get a mortgage in Romania as a foreigner?
EU citizens can access Romanian mortgages. Non-EU citizens typically need to purchase cash or arrange financing in their home country. Romanian mortgage rates are around 5-7% in EUR, 8-10% in RON.
What should I check before buying?
Essential checks: Land Registry extract (extras de carte funciara), liens/encumbrances, building permits, occupancy certificate, no ongoing litigation, energy performance certificate.
Where are the best areas to invest?
Best value: Iasi (university city, IT hub). Highest growth: Cluj-Napoca (tech capital). Tourism: Brasov and Vatra Dornei. Largest market: Bucharest. See our detailed city guides for more.