Can a foreigner buy a house in Romania?

EU citizens can own land, apartments or houses in Romania, just like any Romanian citizen. On the other hand, non-EU citizens cannot own land in Romania. Even if you want to own a flat or house without land, in practice they are usually sold together and cannot be separated.

Is Romania a good investment?

“Romania has a lot of potential”, says Olivier. “The country offers a strong alternative to countries like Poland and the Czech Republic for companies wanting to invest in Eastern Europe. Romania has a very good ratio between quality of life and cost of life, making it an inviting destination for expatriates.”

Is it expensive to live in Romania?

The cost of living is pretty cheap in general. For basic goods, Romania has some of the lowest prices in the EU. Rent in Bucharest — the most expensive city in Romania – can be as expensive as you want it to be, but you can get a comfortable place for less than $400 a month, and often it’s much less.

What should I invest in Romania?

Top 10 reasons to invest in Romania

• Corporate Governance of Companies. Under Romanian law, the most commonly used types of companies are limited liability companies (LLCs) and joint stock companies (JSCs).
• Real Estate.
• Public Procurement Regulations.
• Infrastructure.
• Taxation.
• Labour Law.
• Debt Recovery.
• Energy.

Where should I invest in Romania?

Foreign Direct Investment According to data from the National Bank of Romania, the main sectors attracting FDI are manufacturing, construction and real estate transactions, trade, financial intermediation and insurance. The main investing countries are the Netherlands, Germany, Austria, Italy and Cyprus.

How much does building a house cost?

While the average cost to build a house is $298,000, most homeowners spend between $150,000 and $445,000 to build their home. While you can get a general idea of what you may pay, it’s important to keep in mind that there are numerous factors which will impact the cost to build.

What is the average selling price of an apartment in Romania?

During 2020, the average selling price of apartments in Romania rose modestly by 2.44\% y-o-y (0.95\% inflation-adjusted) to €1,371 (US$ 1,662) per square metre (sq. m.), a sharp slowdown from an annual growth of 8.23\% in 2019, based on the figures from imobiliare.ro. It is the weakest growth since 2014.

Is Romania a good place to buy a house?

Here are some house that you can buy in Romania for prices that I consider pretty low. Combine that with the low cost of living and the extremely friendly and nice people (just like me, heh) and maybe you’ll have some reasons to consider moving here.

What are the taxes on real estate in Romania?

Capital Gains: No tax is levied on the capital gains realized by individuals from selling real property; however transfer tax is levied on the transfer of immovable property in Romania. Inheritance: Inheritance tax is imposed at regressive rates from 2\% to 0.50\% depending on the value of the inheritance.

What is a Romanian house?

Traditional Romanian house by the lake, hand constructed by local craftsmen in 1948, using dirt and bricks, on a wooden structure, covered with a new the house is located in the country, on the main road, in a quiet area.