28 Homes for Sale in Romania
(€) 735000, Glăjerie, near Râşnov and Bran, Transylvania
(€) 170000, Ocna de Jos, Transylvania
(€) 199900, otopeni, Wallachia
This article analyzes the real estate buying process under the Romanian law currently in vigor from the selection of the property by the investor to
the conclusion of the sales-purchase agreement and the validation of the transaction. All proceedings should be carried out or assisted by a lawyer,
who represents one of the three key factors in the process along with the real estate agent and the notary.
The typical Western mentality of' time is money' does not apply in Romania. As a result, the way of doing business in Romania is sometimes more
informal than in Western Europe. Building personal relationships and trust is of great importance. On the other hand, hierarchy and signature stamps
are essential, which can make business more formal.
This article deals with the transaction costs associated with real estate investments in Romania, a country whose profile market has developed greatly
since 2007, creating an attractive investment environment for investors worldwide. These costs vary depending on the type of property they intend to
purchase as well as on its surface, but do not rise over 9% of the property value on their part and 12% all in all.
One cannot imagine today’s real estate market without the help, both for the buyer and for the seller, of real estate agents. Of course, there are
still plenty of people in Romania who prefer to make this type of transaction independently, without the help of a real estate agent, because of the
commission. Truth be told, there are plenty of real estate agents/brokers on the market and there is room for negotiation, so collaborating with them
may mean closing a very good deal.
No other country in the European Union has so many homeowners as Romania. As many as 96.1% of all houses are owner-occupied - compared with 66.9%
across the EU, according to Eurostat figures. The reason: low property prices, advantageous mortgages and a lot of stimulation from the government.