Bukarest

Bucharest is CASABROVA's highest-growth capital: +16.5% year-over-year at entry prices of just €2,000–2,250/sqm. For context, that is roughly a quarter of Lisbon and a third of Prague — yet Romania is an EU member with a growing economy and improving infrastructure. STR yields of 7–10% and LTR of 5.5–7.5% make the arithmetic compelling at current prices.

The STR regime is licensed and stable — operators register with local authorities, pay standard taxes, and list on platforms without restriction. The market is still early-stage: institutional investors have barely entered, supply of quality rental stock is limited, and demand is driven by IT professionals, medical tourists, and a growing expat community.

Key dynamics: Bucharest's northern suburbs (Aviatorilor, Primăverii, Herăstrău) command premium pricing, while the southern and western districts offer highest yields. The leu (RON) is the primary risk — it has been relatively stable against the euro but carries more risk than the złoty. Romania's planned eurozone accession (target: 2028-2029) would be a major catalyst. For investors who see the EU convergence thesis, Bucharest at current prices is potentially the most asymmetric opportunity in European real estate.