Foreigners Prefer To Buy Properties In Romania, Rather Than Rent Them – Survey

Expats and foreign investors are the favorite clients of local real estate agencies because they have a global vision on the property market and are quicker and more determined to sign contracts than Romanians, who are always looking for super offers, Vission House said in a statement.

"Romanians have halved their housing investment budgets. On the other hand, foreigners working in Romania have decided that the local prices are so low that it's more advantageous to buy the dwellings they stay in, rather than pay rent," said Andrei Rusu, manager of Vission House.

Several foreign investors consider the local real estate market has already reached the lowest sale prices and take advantage of the opportunity to buy apartments, especially in the northern part of the capital city Bucharest.

Vission House was set up in 2007. It's portfolio includes 150 properties, all targeting the medium-high market segment. Since setup, Vission House has sealed transactions worth of over EUR10 million.

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