According to imobiliare.net, a 2 rooms apartment can be bought in Cluj-Napoca with 22.000 euros, in Hunedoara with 12.000 euros. A studio (garsoniera) can be bought with 6000 euros in Iasi and with 10.000 euros in Piatra Neamt. Hell, someone could make this money picking up strawberries in Spain 4-5 months…
I told my friend who got married [en, blog] about this and he said:
– But can I move with a family in 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 think there will be a lot of people, which considering they can’t apply for bankruptcy [ro, blog], will need a place to stay being thrown away from their own homes. You buy today for tomorrow’s market.
– The justification for buying a place to stay was being given by the fact that by renting a place you’ve bought you’d recover your investment in about 17-18 years. Now, that figure has come more closely to 6-7 years. Do you keep on thinking to buy a place to stay in? Think again.
For further information on real estate market, I recommend you read this, this and this about how to negotiate with real-estate agents [ro, php], 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 buying a property in Europe), for 20.000 euros, take a look here [en,html]. This [en, php]is what you can buy for 36.000 euros. By the way, it took me about 10 minutes of searching to find it. Imagine what you could find in a few hours!
PS: Thank Heather [en, blog] for the title.
Later edit: That friend of mine kinda wasted half of the cost of that studio in a year and is now living with his wife, together with his parents. This is the way Romanian people think. I know, it doesn’t’ make any sense.