The country where 96% of homes are privately owned21 Nov 2018
As the article demonstrates, Romanian`s are clearly owner`s and not renter`s. The number`s justifying landlord`s to build high quality properties for the purposes of renting do not work primarily because when a local mortgage is involved the rates (between 5 - 9% currently) make renting a poor business decision. The single biggest issue for our business is first finding (because the overwhelming majority of properties we come in contact with are just not up to the standards our clients require) and then convincing Romanian landlord`s of high quality properties to rent.
But, buying with cash and not involving a local bank can be an excellent business decision because the rental yields stand at between 4 - 9% on residential. It comes down to buying in the right location and renovating to a standard and spec that our expatriate clients require. They want quality, natural light, the right location and a configuration that works with their lifestyle. We come across properties all the time that are screaming opportunities, full of potential, but there is no local appetite to pursue.