If you’re a foreigner who owns property in Romania, it’s quite likely that you’ll be looking to rent it out, to earn yourself a neat profit. Familiarizing yourself with the Romanian tax system before you begin renting out a property in the country is crucial. Knowing how much you will have to pay to the state will help you get a better idea of how much rent you should charge your tenants, in order to still turn a good profit. In this article, we look at the taxes for rental property income in Romania, and what you need to know, to calculate how much you will have to pay. What taxes do you need ..read more

When you’re looking to invest money, you have two main options – real estate or the stock market.  The question is which is safer and which will generate the most return on investment (ROI).  Also, you need to think which of the two is more accessible to you. You can just as easily buy some stocks or a property, but understanding how the stock market works is not for everybody, whereas anyone can get a grasp on real estate. After all, a house is a house, you can have a look at it and think of ways to make it profitable, but stocks and bonds are subjected to the whims of the market an ..read more

If you’re considering buying or selling a property, you’re probably asking yourself whether or not you should hire a real estate agent. Do I really need a real estate agent? Surely it cannot be that hard. Technically, yes, you can do without a real estate agent, but in all fairness it won’t be such a great deal you’ll get. And you’ll only realize that when it’s already too late. Let’s have a look at what real estate agents actually do and how their experience can help you find a new home with no hidden problems at the right price or get the best possible price on your old house.  Here are ..read more

First impressions matter. And they matter more than you’d think in the real estate world. If you want to sell your house fast and for a good price, you need to put some work into it and make it as appealing as possible. Here are a few tips to help you prepare your house so it makes an excellent impression. Make Repairs Any good real estate agent will tell you that. If you want to get a fair price for your house you have to identify the things that need repairs and get to work before listing your home for sale. Start with the alley and the front door, and then work your way around the house. If ..read more

If you’re planning to buy real estate in Romania you will owe taxes to the Romanian state and, in order to pay them, you will need to get a tax identification number. That’s usually called TIN in English-speaking countries, but in Romania it’s called NIF, which means basically the same thing.  The Romanian tax authority goes by the name of ANAF and, while not as scary as the IRS, they’ll still be wanting your taxes. Who must obtain a NIF? Romanian citizens do not have a NIF, as they use their personal numeric code (CNP) attributed at birth and mentioned on their ID, for tax purposes. As f ..read more

When you visit Bucharest for the first time, they will undoubtedly tell you to start your tour with Calea Victoriei and with good cause. Calea Victoriei is one of the oldest avenues in Bucharest and is dotted with centuries-old buildings in various architectural styles. The CEC Palace is probably the most amazing among them, so please take your time to walk around examining its most impressive architectural features and, if it is open, don’t waste your chance to go inside and admire the elegant decorations. The history of the CEC Palace The CEC Palace was built between 1897 and 1900 on the gro ..read more

When a foreigner considers the idea of relocating to Bucharest, the main problem is they don’t know much about this Eastern European city.  Although it’s a major European capital, with a population between 2 and 3 million people, Bucharest is nowhere near as famous as Paris, London or Milan. When you’re going to move to Paris, you have some idea of what to expect, but Bucharest, out there in the Eastern, former communist part of the continent, that must be dangerous? The answer is No, Bucharest is a much safer city than many other European capitals, including Berlin, Madrid, Lisbon or Par ..read more

For a long part of its history, Romania fought for existence sandwiched between rival empires. The three main provinces that make up modern Romania, namely Moldavia, Wallachia and Transylvania, were for centuries under the influence of the Ottoman or the Austro-Hungarian empires, which left a mark on the country’s architecture. There is no one style that can be defined as purely Romanian architecture. Wherever you go in the country you will see influences of Byzantine architecture, Gothic palaces or more modern buildings featuring elements pertaining to Neoclassicism or Romanticism. Pre-Modern ..read more