Hello, My name is Frank, and i was thinking about moving to Romania to start some property development.?

Question

I was just wondering what the price of living is over there, and if i have to become a citizen to buy land or property.

Answer 1

You as a foreigner can invest and buy property if you put it under a company's name, then you are considered a boon to the economy and they are very willing to work with you.  In terms of citizenship, it is actually quite hard to become a citizen and you need to pass a language proficiency test, so it is better to try and invest as a business first.  The price of living can be very reasonable ($100 month rent, $100 month food, $100 month various bills) but that will put you at a very basic standard of living, which I assume you don't want, but the price of living can skyrocket if you want the finer things in life, so consider what level of comfort you expect to have first.  In terms of developing property, Romania has had a property boom for the last 5 years and it is now slowing down, some neighborhoods in Bucuresti have seen values of apartments fall 6 to 20 percent over the year.  Some new developments are now sitting empty  because of the economic downturn, so invest and develop wisely.  It may be best to live there for a while and scope out things before buying land or investing.