Rubin, Bucharest
Prices from €181,128
Europa, North West Romania
Prices from €100,579
Boreal, Black Sea Coast
Prices from €164,387
Investment-related Services Providers
You can rely on PIE to provide assistance and guidance beyond the first steps of selecting and reserving your property. We provide every introduction to complementary service providers and professionals and together we will work to bring your investment to full fruition.
Legal Services
A lawyer is required for conveyancing (and possibly for signing the Deeds of Sale on your behalf). We work with a number of independent Romanian lawyers and can whole-heartedly recommend each. A selection of lawyers ensures that one is always available to allow timely, straight-forward conclusion of this part of the buying process.
Finance
Although Romania’s mortgage market has grown rapidly over recent years, the sector is still significantly under-developed and accounts for less than 2% of the country’s gross domestic product. This compares to an average of 44% in the European Union and 65% in the United Kingdom. There is clearly greater scope for development of the Romania mortgage market. Greater availability of capital will raise house prices significantly and secure the high returns demanded by the overseas property investor.
Romanian banks that offer capital to foreign investors include Piraeus Bank, Volksbank, BCR Bank and the independent mortgage broker Imobilia.
Currency Exchange
When exchanging large sums of money (e.g. sums above £5,000) into another currency, it is advisable to use the services of a dedicated currency converting firm. These agencies can offer savings of up to 4% over the exchange rate offered by a high-street bank. In addition, options are offered to take advantage of future favourable changes in exchange rates.
The currency converting service we recommend is HiFX, an agency that represents something of a gold standard in the currency conversion market.
Property Management
A property management company undertakes the duties of collecting rent, screening tenants and conducting maintenance including cleaning, repairs etc. As such they are a valuable resource for the overseas investor who wishes to avoid dealing with tenent issues while retaining the peace of mind of knowing that a management company is always working in their interest. We can put you in contact with the most suitable locally-sourced management company, depending on what area of Romania you wish to purchase property in.
Note that property management services are offered free when purchasing property in the Quartz development under the 'Sky is the Limit' option.
Re-sale of property
Whenever you decide to sell your Romanian property, P.I.E. can either introduce you to local agents or we can market your property on your behalf.