New buildings in Timisoara
City on the map
Timisoara is a city on the Bega Canal in western Romania.
Why is it profitable to buy an apartment in a new building of Timisoara?
Timisoara is a rapidly developing economic center of the country. The proximity to the western border has facilitated the attraction of foreign investment, most of which comes from the EU countries, especially from Italy, Germany, and France. At the end of 2005, the French magazine L'Expansion called Timisoara the country's economic showcase, and the increase in Between 2000 and 2013, Timisoara had the highest GDP per capita growth rate, surpassing even Bucharest. In December 2019, the unemployment rate became one of the lowest in the country - just 0.8%. The branches of industry have grown especially: automobile, chemical, petrochemical, electronic. There are also small and medium-sized enterprises in historically established industries in which foreign investors are interested: textile, clothing, footwear industries.
The city is famous for its Baroque architecture. Locals call it "Little Vienna". Streets, squares, courtyards are buried in greenery. Timisoara is also considered the city of flowers.
The climate belongs to the temperate continental with characteristic steadily hot summers, rather cold winters, and a small amount of precipitation.
Rich black soil, relatively high groundwater levels make the agricultural region fertile.
The infrastructure of the city is well developed: the railway junction connects the city with other settlements of the country and with neighboring Serbia. The international airport is located 10 km northeast of the city center. City transport is represented by buses, trolleybuses, trams. Numerous inexpensive taxis run around the city.
The city has a Technical University and Western University. Both universities have the status of research centers and are among the top five universities in Romania.
The primary real estate market has been experiencing significant growth lately. Most of the projects are multi-storey residential complexes aimed at the mass and medium market segments. The acquisition of real estate is of greatest interest to representatives of countries such as Italy, Hungary, Germany. This is primarily due to the improvement of business relationships. In addition, due to the development of industry and the constant creation of new jobs, workers from Turkey and the Arab states are arriving here.
New buildings in Timisoara from the developers appear in large numbers, however, the land in the city is located above the groundwater level at a depth of only 0.5 to 5 meters, which does not allow designing especially tall buildings.
The proposed new housing does not meet the growing demand for new properties in Timisoara. Residential complexes in Timisoara consist of apartments of different classes (economy, elite) and are completed on time and are being built using the latest technologies. The sale of apartments from developers is carried out, as a rule, in black frame condition. Renovation in new buildings meets the standards. Feedback from home buyers confirms the good quality of the properties.
You can buy an apartment from a developer in Timisoara at a low cost ( considering EU standards). The minimum price per square meter of space in a new building in black frame condition (according to the information of the real estate search engine GEOLN.COM) is $1,100.
Purchase of an apartment in Timisoara by foreigners
Foreigners have the right to purchase real estate without restrictions.
Highlights of the city
- Hunyadi Castle (the building houses the Banat Museum, Baroque Palace, Art Museum, Dikasterial Palace, Lloyd's Palace, Neptune public baths, etc.);
- Church of St. Catherine;
- the building of the old synagogue;
- Romanian Orthodox Cathedral;
- Freedom square
Purchasing an apartment in a new building in Timisoara is a profitable investment taking into account the ratio of the low purchase price and consistently high passive income in a European city of dynamic development and great opportunities.
Prices per sq. m. in popular districts of Timisoara
|Aradului||1280$ / m2|
|Planetelor||1180$ / m2|
|Aradului Est||1330$ / m2|