How to correctly buy an apartment in Romania, step by step

How to correctly buy an apartment in Romania, step by step
How to correctly buy an apartment in Romania, step by step

1. Set a realistic budget and available down payment

The first step before going on any property portal is to clarify your total budget and the down payment you can support from savings. In current banking practice in Romania, the standard minimum down payment for a classic mortgage is usually 15% of the appraised value of the property, according to mortgage lending specialists.[1]

At the same time, it is essential to calibrate the monthly instalment in relation to your income. The Financial Stability Report of Banca Națională a României takes into account, in standard affordability scenarios, a 15% down payment and a debt-to-income ratio of around 40-45% of the household’s net income.[2] As a prudential rule, it is recommended that the total monthly loan instalments do not exceed 40% of the family’s net income.

Do not forget that in addition to the apartment price and down payment you will also have to cover collateral costs: property valuation, notary fees, land registry fees, any bank fees, moving and fit-out.

For a comfortable purchase, build your budget starting from: minimum 15% down payment, monthly instalment below 40% of net income and a reserve of at least 5-7% of the property value for fees and fit-out.

If you are targeting the government program Noua Casă, you should know that for homes priced up to 70,000 euros you can access a minimum down payment of 5%, and for those priced up to 140,000 euros the minimum down payment is 15%, according to official information communicated by the Government and the National Guarantee Fund.[3][4]

2. The market and type of apartment: how to define your target

After clarifying your budget, the next step is to define the type of apartment and the area. ANCPI statistics show a sustained flow of real estate transactions at national level, with monthly reports dedicated to market developments, which confirms a constant interest in home purchases.[5] In large cities, price differences between neighbourhoods can be significant, so careful filtering of offers is essential.

A few factors to take into account when choosing the apartment:

  • Location, access to public transport and infrastructure (schools, kindergartens, medical services).
  • Type of construction, year of the building and level of seismic risk.
  • Monthly maintenance costs and the building’s energy efficiency.
  • Condition of the apartment, whether it requires full renovation or only minor updates.
  • Legal situation: registration in the land book, existing mortgages, co-owners, any disputes.

At this stage it is useful to talk in parallel with a mortgage broker or the bank, in order to obtain a pre-approval for financing. This way you know exactly what budget is accepted before making a firm offer to the seller.

3. Legal and financial checks before signing anything

No matter how good the apartment looks, do not rely only on the viewing. Ask the seller for an up-to-date land registry excerpt, ownership documents, tax certificate and, if applicable, the history of mortgages or encumbrances.

The basic documents that must be checked are:

  • Land registry excerpt for information purposes, recent, to see the owner, the surfaces and any encumbrances.
  • Title deed (sale-purchase contract, donation, inheritance, etc.).
  • Tax certificate from the Local Tax Directorate, certifying that there are no outstanding property tax liabilities.
  • Energy performance certificate, mandatory upon sale.

At this stage, you can involve a lawyer or the notary chosen by you to check the documents and identify any risks in time, so that the sale and purchase promise and the final contract do not hide surprises.

4. The real transaction costs: notary fees, taxes and land registry fees

Many buyers calculate only the down payment and the instalment, but underestimate the costs at the notary and ANCPI. As of 2024, minimum notarial fees are regulated by Order of the Minister of Justice no. 177/C/2024, and the updated notarial fee calculators for 2024-2026 use these official grids to correctly estimate costs.[6][7]

A notarial fee calculator dedicated to apartment sales, updated for 2026, allows you to estimate the notary’s fee, the tax due and land registry fees based on the sale price and type of transaction.[8][9] In general, in a standard sale-purchase, the buyer pays the notary’s fee and registration fees, and the seller, if applicable, the income tax on the transfer of the real estate property.

According to explanations in an analysis report on the taxation of real estate transactions, no income tax is due on the transfer of real estate properties from personal assets for transactions with a value of up to 450,000 lei.[10] For the value exceeding this threshold, a percentage tax is applied, calculated by the notary, in accordance with the Fiscal Code in force at the date of the transaction.

The registration fee charged by ANCPI for recording the ownership right is calculated as a percentage of the declared value of the property. For individuals, the standard rate is 0.15% of the transaction value, according to information provided by the cadastre offices and official notarial fee calculators.[11][8]

The most efficient way to avoid surprises is to enter the estimated apartment price into the notarial calculator before making the offer, so that you know from the start how much you will actually pay at the notary and at the land registry.

5. From preliminary agreement to final signing at the notary

After you have agreed on the price with the seller and you have the bank’s confirmation that it will grant you the financing, the contractual stage follows.

The preliminary agreement (sale-purchase promise) is usually signed at the notary and includes: the final price, the deadline for signing the definitive contract, the amount paid as down payment or earnest money, as well as the termination conditions. It is recommended that any significant amount paid before the final contract is clearly reflected in the preliminary agreement.

The mortgage loan contract is signed with the bank after the file is approved. In the case of the Noua Casă program, the Government has allocated for 2024 a guarantee ceiling of 1 billion lei, for loans in lei intended for the purchase of a single home, according to the government decision and official communications.[3][4] The specific interest and fee conditions are set according to the offer and your risk profile.

The sale-purchase contract is signed in front of the notary, after the bank transfers the loan into the indicated account (usually an escrow account or directly to the seller) and after all documents have been checked. The notary drafts the deed, reads it to the parties, collects signatures and orders registration in the land registry.

Subsequently, ANCPI records the registration of the ownership right, and you receive the authenticated land registry excerpt, the document that officially certifies that you are the owner of the new apartment.

Throughout this process, the key to a safe and surprise-free transaction is planning: clear budget, thorough legal checks, understanding the real costs and close cooperation with the bank, the notary and, where applicable, a real estate consultant or mortgage broker.

Sources

Întrebări frecvente

Ce avans minim îmi trebuie pentru un apartament cu credit ipotecar clasic?

At present, the standard minimum down payment requested by banks for classic mortgage loans is usually 15% of the appraised value of the property, according to current practice highlighted by mortgage lending specialists.

Cât de mare ar trebui să fie rata lunară față de venitul meu net?

It is prudent for the total monthly loan instalments not to exceed approximately 40% of the household’s net income, in line with the affordability scenarios analysed by BNR in the financial stability report.

Ce taxe mai plătesc în afară de prețul apartamentului și avans?

In addition to the down payment and the apartment price, you will pay the notary’s fee, the registration fee at ANCPI (usually 0.15% of the transaction value for individuals), any income tax on the transfer of the property owed by the seller, and costs for valuation, bank fees, moving and fit-out.

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