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If you’re looking for an European destination to buy real estate in, Romania might be just the right choice. Buying an apartment here, either to spend vacations or to lease, comes with advantages that turn this country into a gem, despite it being less popular than most well-known countries on the old continent.
The state of the market
The residential market here is developing, and expected to reach a volume of US$0.93tn by the end of 2028. When it comes to prices, Romania comes third after Bosnia and Herzegovina and Greece in the top of European countries with the cheapest housing (the average price being 1,417 EUR/sqm for a new property, according to Deloitte Property Index 2023).
The same index positions Cluj-Napoca as the most expensive city in Romania (2,363 EUR/sqm), which is still considerably more affordable than Paris, the most expensive European city (with an average price of 14,622 EUR/sqm for a new apartment).
Romania is not an interesting option just because of affordable prices for US real estate investors who consider buying a property in Europe.
Why you should consider Romania
This East-European country is rich in history and natural beauty. Travelling through Romania will take you from beautiful Carpathian mountains to pittoresque Transylvania, to the Danube Delta and to the charming sea-side. You have castles on one hand, and small villages that caught the eye of English royalty on the other.
Romania has also caught the eye of movie producers, a more recent example being Netflix-famous Wednesday, part of which was filmed in Busteni, Romania. You might also recognise Romanian actors that made it to the big screens, such as Sebastian Stan.
Maybe something less known, is that Romania has GREAT internet, being in the global-top of countries with the fastest connection.
Romania is a country with a latin language, but with many Balcanic influences as well. You’ll feel this mix when you hear the language (but don’t worry, English is widely spoken here), or taste the delicious food. There’s a lot of tourism potential, both during winter and summer, which makes this country a valid option to buy a property to spend your holidays here.
If, on the other hand, you’re looking to buy property that you want to lease, Romania is also a great option, with several educational hubs. More than half a million people were registered for academic studies in 2022-2023, and students are coming both from within the country or from abroad. Furthermore, Romania is an important tech hub, with many people moving to the main cities to work with big corporations.
A great destination for digital nomads
Romania is also a developing destination for digital nomads. Actually, according to the Digital Nomad Index, Romania comes 3rd in the top of the Best Countries for Digital Nomads.
This is no surprise if we’re considering the fast internet connection, the friendly taxation system, travelling opportunities, costs of living, the growing coworking market and maybe most important, people.
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