Romania Property Buying Process
September 27th, 2007 by admin
As Romania continues its progress towards EU accession with its entry date confirmed as January 2007, so the rules relating to foreign freehold ownership of land and property in Romania are changing to come in line with the European Union’s regulations.
This bodes well for the investment property market in Romania because currently non-Romanian citizens are not permitted to own land in Romania unless they purchase it through a Romanian company structure.
The property buying process in Romania will become more streamlined and hopefully more transparent in the years following Romania’s EU entry (Jan 2007), in the meantime here’s our guide to the real estate purchase process in Romania currently.
The first objective to fulfil is the search for suitable real estate, and to this end an investor can secure the services of an estate agent in Romania who speaks English and has local knowledge of properties available for sale. An investor will likely have a strict set of criteria that his property acquisition should fulfil, and these should be articulated to the estate agent so that they can source suitable properties for viewing.
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- Posted in Romania, Europe real estate, Real estate guide, Property Market