Attention! The requirements for credits offered by banks in Romania to private persons are very different than those for companies!
It is best to find out about it BEFORE someone tells you to buy on the company is the best move.
As for credits for foreigners, the offer is very limited at the moment for non residents and due to the crisis on the financial markets we will see more restrictions in the future. Honestly (even if that would turn into a risk for our business) I agree with these restrictions as it is not desirable for Romanian banks to have clients who often have credits all over the world, but claim not to have any and are at some point unable to pay the mortgage. Banks should not turn into real estate agencies, having to cope with all sorts of off-plan developments which suddenly enter their full possession. These speculations also put the price up for the locals, who can't afford a home anymore. The result is nobody profits from these games, most of the time the speculants also have to lose, except for the ones who were there first.


Elie Katz
Transylvania Investment Partner