Things to consider for buying an apartment in Bucharest

If you want to purchase an apartment in Bucharest, there are few main things to consider before you dive in the actual real estate market

Will the apartment in Bucharest be an investment or do you plan to live there?

This is important: Bucharest’s real estate market is “split” into two main categories: New and “old” apartments.

The so called old apartments is a generic description of apartments built by the former communist regime in Romania. Most of the city’s residential area is actually comprised of this type of apartments which were build by the tens of thousands to accommodate the growing industry promoted by the communists. Entire blocks of flats were mass produced and today they are rather unattractive, small, and not exactly “top” in any way.

With all these disadvantages, there is a huge market for these apartments because they are cheap and in large quantities. However, they are not a good investment: price for these has not moved much since the 2008 crisis.

Also, Romania’s government has implemented programs to support young families to acquire housing, but, only in new buildings so, for old appartments demand has been for years lower than supply.

If you plan to invest, than you should take into consideration only new apartments

The best and most profitable real estate market for apartments in Bucharest is the so called market for “New” apartments. This are accommodations build usually in the last 20 years. The offer in this category is highly diversified and you will need the advice of an experienced real estate agent to guide you.

As a general rule, there are two categories of apartments in Bucharest:

  • Lower end apartments
  • Higher end apartments


The lower end apartments are build with price as main consideration and they generally target the same individuals who are interested in the “old” apartments: young families and individuals with low to medium income.

Higher end apartments are usually build in the center of Bucharest and the northern part, and generally have comfort and luxury as main focus. They are in significantly better neighbourhoods are much larger and offer more facilities. The price for these apartments is also significantly higher.

You want to buy an apartment in Bucharest to live in not invest

If investment is not what you are after, then there are some additional considerations to take into account.

If price is the main issue, then you should target the market comprised of old apartments (some of them are ok) and new budget buildings. There is a very large market of apartments in this categories, so you have plenty to choose from. Most of the recreational areas in Bucharest is in or near the center, so, if you can, try to avoid the periphery.

If price is not the main issue, than you should consider Bucharest’s Center or it’s northern part.

Bucharest’s largest park is called Herastrau Park and is located in the north of the city. Around it there is a very large market of high class apartments and luxury buildings. Access to city’s center is also very good. Also, most large international companies have HQ’s in the northern part of Bucharest, so if business is a top priority, you should also consider this area for a possible purchase.

CONSIDERATIONS FOR BUYING LUXURY APARTMENTS IN BUCHAREST, ROMANIA

Have you always thought about owning a luxury property? Having worked so hard all your life, it's time to reward yourself with something good. Whether you are looking at resale units, rental housing or completely new developments, the number and type of luxury property available in the markets today are in abundance.

Are you looking for a safe market to invest your money? It may not have crossed your thoughts, but the Romanian real estate market has showed a reliable growth in the last 4 years.

When buying, selling or renting a luxury property, finding the right luxury real estate agent is key. Real-estate brokers who specialize in luxury homes have connections. They may have the ability find a consumer with no advertising. And they may be able to get you the perfect home even when it isn't listed. Significant sums of cash are at stake in a luxury home transaction so having the ideal agent with the ideal contacts is vital. There are various strategies to find the right agent.

-Go with a property agent with experience in the precise form of luxury house you want. Should you be looking for a high end condominium, by way of example, you should decide on an agent who specializes in that kind of home. One way to find an agent should be to inquire at some top quality homes as they are really likely to be used to working with these brokers.

-Another way to find a luxury property agent is always to observe listings of luxury houses and apartments in the newspaper and on the web, for sale or for rent. If you notice that a certain agent seems to be listing a good deal of homes that you are interested in, or you observe his name on many of the listings in the neighborhoods that you fancy, then that is an indication that he is specializing in luxury properties.

-Get referrals from coworkers, friends, or loved ones. If someone has had a fantastic experience shopping for or selling a luxury house by working with an agent then they're going to gladly refer you. If a specific agent's name keeps coming up when you check with men and women for the referral then this may be a great agent to check out.

-Try to find an agent who works with a company that has a good record of working with luxury properties. As per where you live, a small boutique company may have constructed a good standing for that market. In another case, the big players in the luxury real estate property market may be the big firms with lots of associates. If you decide on large firms, hunt for the brokers who get the highest producer awards.

You should always take time to plan and research the real estate options that you possess. Check your finances in addition to see which type of residence will be more suitable for you. For example, would renting or buying be a more practical option for you? Do not rush to make this expensive decision, and instead seek advice from your own real estate agent or any other property specialist to see if you might be getting a good offer.

There are various varieties of luxury properties available these days. You will find: high rise real estate, waterfront luxury houses, custom made homes, grand estates, mansions as well as other private houses.

As such, based on your personal preference, almost all of these properties will be able to meet your housing needs. Consider the location of the properties, if they are near good schools. Are they accessible or need you spending extended hours commuting from place to place? Also, you might wish to check out the types of amenities that are offered in the vicinity.

The price range of luxury homes in Bucharest can be 150,000 euros or more. So if you intend to purchase a house or apartment, it is very important that you do your personal research, so you absolutely get your money's worth.