by Alexandru Petrescu 
It is good news for Romanians who want to buy homes but do not fall under the First Home program, BCR reduced the minimum advance for mortgage loans in lei to 25%, and Piraeus Bank needs 20% for loans in lei and 30% for loans in euros.
BCR reduced the minimum down payment required for mortgage loans in lei, to 25% (from 35%, as it was established in May, after the law on Giving in payment and as it was until the beginning of August). The 10% down payment allows more homeowners to qualify for a mortgage.
However, this BCR reduction only applies to large cities, where the real estate market has several valuation tools, respectively for Bucharest, Cluj-Napoca, Timişoara, Iaşi, Constanţa, Craiova, Braşov, Galaţi, Ploieşti, Oradea, Brăila, Arad, Piteşti, Sibiu, Bacău, Târgu Mureş, Baia Mare, Buzău, Botoşani, Satu Mare.
Piraeus Bank Romania also “cut” the minimum down payment by 10%. This month, for a mortgage loan in lei, the minimum down payment requested by this bank is 20%, and for a euro loan, it is 30%.
If you would like more information about the villas available for sale in Bucharest, please contact the ESOP team by filling this brief form, or by phone (+4) 0723.26.61.97 or (+4) 021.528.04.40. We’ll promptly answer your inquiry!
Founding Managing Partner of ESOP Consulting | CORFAC International with 20 years of experience in real estate consulting and entrepreneurship.
What will companies do in the post-COVID-19 period? Will they return to the consolidation strategy, namely placing the entire company under a single roof, be that an office building or a business park? Or will they choose to “atomize” them through Work from Home or Work Near Home? Or will they adopt a hybrid strategy […]
Update 24.10.2019 The Capital City Hall approved the introduction of the vignette in Bucharest. Downtown, cars under Euro 3 (Non-Euro, Euro 1 and Euro 2) will not be allowed next year, and from 2021 nor those below Euro 4. All cars under 5 euros will pay a vignette to drive on the other streets, outside […]
City Hall of District 5 has recently held a public debate on the development of the Antiaerian project, on the most extensive free plot in Bucharest, about 110 hectares. Along with our company, representatives of the foremost real estate developers in Bucharest and several major real estate companies were invited. The initial project proposes building […]
