I had no idea what to expect before I first came to Romania. I had an image of poverty, communist blocks and dogs running around the streets. When I came to Brasov, I was surprised. It was a little bit of Prague beside the mountains. If it had a lake it would be perfect. Brasov has a very peaceful and seductive quality to it. You can feel like you are away from it all, but it also has a comforting homelike feel to the place.
After the purchase price plus renovation costs are included, the property is currently yielding 10% gross. This is during a difficult time when rents have fallen back considerably. As I purchased the property before the mini boom time, this has enabled me to keep a good yield in the current climate. The property value has also increased and so has become a good asset for me now and into the future. I see purchase prices back at valuations that are worth while looking at. In fact I have recently purchased another property in the same area
A major consideration is finance, and to date I have been
unable to secure finance and so I have been unable to leverage my capital. This is a concern for the future, but I am hoping that lending conditions will improve. I get both a monetary return, plus the enjoyment of owning a superb property in a great location.
Note, for mortgage advice or applications, we unreservedly recommend Stefan Willems of www.Easycredit-bucuresti.ro for all matters of finance based on client satisfaction & their dedication to service. Most EU citizens in stable employment stand a fair chance of success. This particular client has a complicated employment arrangement making credit more difficult than for most but in out experience, it is not typical. I point this out so you know your options.