Do EU citizens have the same property rights as Romanians?
Yes, since January 1, 2014. EU/EEA citizens can buy any type of property (apartments, houses, land, commercial) with no restrictions whatsoever.
Can Americans buy property in Romania?
Yes. US citizens can buy buildings and apartments directly. For land, you need to set up a Romanian SRL (limited company). This is a simple process costing about EUR 500 and taking 3 days.
Do I need to live in Romania to buy property?
No. You can purchase remotely using a power of attorney (procura speciala) signed at a Romanian consulate or notarized and apostilled in your country.
What documents do I need as a foreign buyer?
Valid passport or EU ID, Romanian fiscal code (CIF, obtained from ANAF in 1-2 days), and optionally a Romanian bank account. For company purchase: SRL registration documents.
Is there a residency requirement for property owners?
No. Owning property in Romania does not require residency, but it can support a residency application if desired.
How safe is the property market in Romania?
Romania has a well-established Land Registry (Carte Funciara) system that provides strong ownership protection. All transactions must go through a notary, adding legal security.
Can I finance the purchase with a Romanian mortgage?
EU citizens can access Romanian bank mortgages. Popular options include BRD, BCR, and Raiffeisen. Typical LTV: 75-85%, rates: 5-7% for EUR loans.
What are the ongoing costs of property ownership?
Annual property tax (0.08-0.2%), building maintenance fee (EUR 20-50/month for apartments), utilities, and optional property insurance (EUR 50-200/year).
Can I rent out my Romanian property?
Yes. Rental income is taxed at 10% flat rate after a 40% standardized expense deduction. You can rent long-term or short-term (Airbnb). Many foreign owners use local management companies.
How do I sell property in Romania?
Sell through a real estate agent (2-3% commission) or directly. The sale is finalized at a notary. Capital gains tax is 3% of the transaction value. Transfer is registered automatically with the Land Registry.