New builds in Romania
Location and climate
Romania is a country located in the southeast of Europe, a member of the EU and NATO, bordered by the Black Sea. The climate is continental: warm summers and cold winters.
For the information of the investors: economics, culture, education
The country's economy has become larger and sufficiently diversified, which was facilitated by joining the European Union. The country has its own reserves of oil and gas, although they are not so significant (the need for them is greater than production). The transition to a stable market economy was relatively painless, there is low inflation and high economic growth. Public debt is not large, the cost of labor is inexpensive and working class has a good educational level. A serious problem is the departure of the able-bodied population to other, richer countries of the European Union, and the growth in the number of pensioners. The country produces oil and gas equipment, but the leading role is still given to agriculture, which includes crop production, grain production, viticulture, and animal husbandry. The following industries are also developed: metallurgy, chemical industry, and textile production. The role of tourism in the region of the Black Sea coast and the capital is significant.
Romanian culture is rich in folklore. There is the world-famous legend about Count Dracula, who supposedly had a real prototype - Count Vlad III Dracula. Tourists like to participate in folk festivals, cultural festivals, the traditions of which are rooted in the early Middle Ages. Holidays are associated primarily with the Christian religion (Easter and Christmas), more than 80% of the country's population profess Orthodoxy.
The education system includes 56 state universities, 26 private universities, 6 higher schools, where various educational programs are implemented. There are also other academies, conservatories, universities and colleges.
It is profitable to buy an apartment in a new build in Romania
The demand for new builds from the developer in Romania is high. Despite the fact that the cost of apartments in the country increases by an average of 3-4% annually, it is still possible to buy an apartment from a developer in Romania inexpensively. At the same time, it is possible to purchase decent apartments within the city limits for little money. Expensive luxury options are also offered but this is rather an exception to the general rule. Living in Romania is cheaper than in other EU countries due to lower prices for goods and services. Mortgage programs are available.
Investors who managed to buy real estate in the new builds for sale earlier can sell it profitably today. But even now it is not too late to buy an apartment in a new build for sale for the purpose of leasing or reselling it in the medium term.
A favorable tourist atmosphere attracts investors, and it also contributes to the development of the rental market for the new homes for sale. It is profitable to buy a primary property for renting it out (one of the highest rates of return). Investment volumes have been constantly increasing, with the exception of recent times, since the construction of the residential complexes has slowed down somewhat. However, residential complexes in Romania are still widely represented on the market.
At present, the lowest cost of an area in a new home handed over in black frame condition (according to the information of the GEOLN.COM search engine) is 580 USD per square meter.
Acquisition of an apartment from a developer in Romania by foreigners
There are no prohibitions for foreign buyers to purchase apartments in the property in Romanian legislation. Sale of apartments from developers is carried out to foreign investors without any restrictions.
Purchasing an apartment in a new development in Romania is a profitable investment with a stable passive income from rent or resale and the opportunity to live in a country with a developing economy in the single space of the European Union.