Reply To: Buying a property in Romania

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#19377 Reply

David

Romanian law sets certain restrictions on who is allowed to own property. This will vary depending on the classification of the individual and the classification of the property:

Romanian citizens may freely buy and sell any property.[3][4]
Foreign citizens (non-Romanian) may purchase a home or apartment in Romania, but they are not entitled to own the land itself that the property sits on.[5][6] These requirements appear to be in a state of flux,[7][8] particularly with regard to citizens of European Union countries.[9][10] As time goes by, you may need to check these ownership laws again for any possible revisions.
Romanian companies or “legal entities” may buy property and own the land itself. It is possible, under the right conditions, for foreign individuals to create a Romanian company and then use that company to purchase land.

Real estate agents in Romania are not required to be licensed or covered by any governmental agency. You will want to be careful before selecting someone. When you are selecting a real estate agent to work with, ask about his or her credentials, experience with the properties in the area, length of time in the business, etc.