It seems that Romania is among the top countries in terms of real estate ownership rate in Europe.
Although renting a home is very popular in some countries, in Romania it is applied only on a small scale. Most Romanians who live in rent, they see this only as a temporary solution and short-term compromise until they will purchase their own home.
This is because bank rates when purchasing a home are often equal to the rent, and other reasons such as:
1. The desire to be the owner – is largely influenced by the historical context of our country. After the fall of communism, those who at that time were used to pay rent, have become owners. Currently, Romania has one of the highest rates of property in Europe.
2. The rent is equal to the bank rate when purchasing a home – Payment of monthly rent is often similar to the monthly payment on a mortgage. This is an incentive for most people to buy a home, rather than to rent.
3. The desire for stability – one of the major reasons why most romanians see rent as a compromise, is influenced by major dysfunctions of this market. Insufficiently regulated and controlled, it often fails to provide a satisfactory degree of tenant stability and protection.
„Uncertainty related to rental units on the rental market« gray »market and inflated prices charged on the ‘official’ market, are pushing middle-income households to buy a home,” said government officials.