[later edit: even though it’s obvious the figures in this post are not evergreen, the principles stated are the same]
According to imobiliare.net, a 2 rooms apartment can be bought in Cluj-Napoca for 22.000 euros and in Hunedoara for 12.000 euros. A studio (garsoniera) can be purchased with 6000 euros in Iasi and with 10.000 euros in Piatra Neamt. Someone could make this money picking up strawberries in Spain for 4-5 months…
I told my friend who got married about this and he said:
– But can I move with a family to a small studio?, and I replied:
– What you buy is not to live there, but to rent it to other people
– Yes, but the rents will also drop
– For the moment, yes, but I think there will be many people who, considering they can’t apply for bankruptcy, will need a place to stay being thrown away from their own homes. So you buy today for tomorrow’s market.
– The justification for buying a place to stay was that renting a home you’ve purchased would recover your investment in about 17-18 years. Now, that figure has come close to 6-7 years. So do you keep on thinking about buying a place to stay in? Think again.
For further information on the real estate market, I recommend you read how to negotiate with real estate agents and this [en, html] for a global view. And just to give you a hint about what you can buy, let’s say, in Slovakia (where there are the lowest expenses attached to purchasing a property in Europe), for 20.000 euros, take a look at a specialty site. You could buy a wonderful property for 36.000 euros. By the way, it took me about 10 minutes to find it. Imagine what you could find in a few hours!
Later edit: That friend of mine wasted half of the cost of that studio in a year and is now living with his wife and his parents. This is the way Romanian people think. I know it doesn’t make any sense; most of the original links I found during my searches are unavailable and weren’t archived, so I removed the broken links.
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