--- title: "Six Bucharest Investments: 11-17% Average Annual ROI Over…" description: "The six residential investments on our platform project 11.09% to 17.29% a year over a five-year hold and sale with mortgage financing, and 8.67% to 10.87% a…" canonical: "https://adelinvest.com/insights/bucharest-investments-five-year-roi/" last-updated: "2026-09-05T01:34:40.898Z" --- # Six Bucharest Investments: 11-17% Average Annual ROI Over… > The six residential investments on our platform project 11.09% to 17.29% a year over a five-year hold and sale with mortgage financing, and 8.67% to 10.87% a… Source: https://adelinvest.com/insights/bucharest-investments-five-year-roi/ Investment # Six Bucharest Investments: 11-17% Average Annual ROI Over Five Years Investment • September 4, 2026 • 5 min read ![Ohad Gilboa](https://res.cloudinary.com/dtfqq4fjc/image/upload/f_auto,q_auto,c_limit,w_200/v1779364613/Ohad_Gilboa_3_2_b0ed403af2.jpg) [Ohad Gilboa](https://adelinvest.com/about-us) Share * [](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fadelinvest.com%2Finsights%2Fbucharest-investments-five-year-roi%2F) * [](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fadelinvest.com%2Finsights%2Fbucharest-investments-five-year-roi%2F) * [](https://wa.me/?text=Six%20Bucharest%20Investments%3A%2011-17%25%20Average%20Annual%20ROI%20Over%20Five%20Years%20https%3A%2F%2Fadelinvest.com%2Finsights%2Fbucharest-investments-five-year-roi%2F) * [](https://x.com/intent/post?text=Six%20Bucharest%20Investments%3A%2011-17%25%20Average%20Annual%20ROI%20Over%20Five%20Years&url=https%3A%2F%2Fadelinvest.com%2Finsights%2Fbucharest-investments-five-year-roi%2F) * [](mailto:?subject=Six%20Bucharest%20Investments%3A%2011-17%25%20Average%20Annual%20ROI%20Over%20Five%20Years&body=https%3A%2F%2Fadelinvest.com%2Finsights%2Fbucharest-investments-five-year-roi%2F) ![Six Bucharest Investments: 11-17% Average Annual ROI Over Five Years](https://res.cloudinary.com/dtfqq4fjc/image/upload/f_auto,q_auto,c_limit,w_1600/v1788563688/hf_20260904_231131_a2637490_d55e_4352_8238_ba7efa607038_a0e41c42ef.png) The six residential investments on our platform project 11.09% to 17.29% a year over a five-year hold and sale with mortgage financing, and 8.67% to 10.87% a year all-cash. Here is the book, ranked, and what drives the spread. Six residential investments are live on our platform right now. Held five years and sold, they project average annual returns of **11.09% to 17.29%** with mortgage financing, and **8.67% to 10.87%** on an all-cash purchase. Read those as annual figures, not totals: Eminescu 36 projects 15.65% **a year** across the five-year hold, not 15.65% over it. Those are the figures we underwrite to, and they are the ones worth comparing — not the first-year yield. A Bucharest apartment produces three returns at once: net rental income, equity built as the mortgage amortises, and the gain realised on sale. Judging it on year one measures the first of those and ignores the other two. ## The current book, ranked by average annual return Investment Price Avg annual ROI over 5 yrs (financed) Avg annual ROI over 5 yrs (cash) Year-1 ROI (cash) Tudor Arghezi 28, Sector 2 — 3-room split into 2 units €170,000 **17.29%** 10.58% 6.51% Eminescu 36, Sector 1 — studio €65,550 **15.65%** 10.87% 6.81% Strada Frăției 7, Ploiești — 2-room €55,200 **13.97%** 8.90% 5.94% Calea Victoriei 91-93 — double studio €83,000 **13.20%** 9.22% 6.85% Cortina North Residence, Voluntari — 3-room €200,000 **12.55%** 8.98% 4.83% Matei Voievod 114, Sector 2 — 2-room €135,000 **11.09%** 8.67% 4.51% Every unit carries its full financial model on its own page, in both scenarios, including the appreciation assumption behind the projected sale price. We publish the assumption rather than just the result, because a return you cannot audit is not a return you should act on. ## Why financing lifts the number so far Look at Tudor Arghezi 28: **10.58% a year on cash, 17.29% a year financed.** The property is identical in both columns. Only the capital structure changes. Romanian fixed-rate mortgages have been running at roughly **4.5–4.6%**, against gross rental yields of **6–7%** in Bucharest. When the cost of debt sits below the asset's income yield, every borrowed euro adds to the return on your own capital instead of subtracting from it. The rent covers the interest and then some; the appreciation accrues on the whole asset while you funded part of it. Eminescu 36 makes the point in cash terms: **€26,220 down** on a €65,550 studio, against €65,550 for the same unit outright. Same apartment, same tenant, same management — a quarter of the capital. This is the most under-used feature of the Romanian market among foreign investors, most of whom arrive intending to pay cash because that is how they would buy at home, where the spread does not exist. ## Entry price decides the ranking The order of that table is not random. It tracks price per square metre almost exactly. Tudor Arghezi 28 was sourced at **€1,452/m²** and leads the book. Matei Voievod 114 sits at **€2,980/m²** and sits last. Both are two-to-three room apartments in Sector 2, both let to the same tenant profile, both managed by the same team. The €1,528 per square metre between them is the entire difference in outcome. That is why acquisition is where we spend our effort. Bucharest existing stock now averages €2,259/m², up 10% year-on-year, and new build €2,636/m², up 21%. In a market moving that fast, buying at the average is a decision to accept an average return. Tudor Arghezi also shows the second lever: it is a three-room apartment reconfigured into two independently rentable units, producing **€12,900 of first-year rent** from a €170,000 purchase. Rent per square metre, not price per square metre, is what a good conversion moves. ## What makes a projection worth reading A five-year model is only as good as the operation behind it. Ours assume **95% occupancy**, and holding that is the work: tenant screening, tenancies that run two years and longer, fast re-letting between them, and repairs done before they turn into vacancies. We manage **950+ residential units** across Romania and have done this for 22 years, which is what makes those assumptions ordinary rather than optimistic. We also close the loop. A studio we bought on Armand Călinescu in 2016 for €37,000, renovated, tenanted and managed for 7.8 years, sold in April 2024 for €71,000 — **€14,216 of rental income distributed and 55.8% total return**, realised, not projected. Bought at €933/m² in a market that has since roughly doubled, which is the same point the table above makes. If you are choosing a unit, the [current investments](https://adelinvest.com/investments) carry both scenarios in full. If you want the reasoning behind every figure, our [return methodology](https://adelinvest.com/insights/how-we-evaluate-real-estate-returns-and-why-appreciation-is-only-part-of-the-story) sets it out, and the works that actually pay are in [Renovation ROI](https://adelinvest.com/insights/renovation-roi-highest-returns). If you already own in Bucharest and want the asset run properly, that is our [property management and asset management](https://adelinvest.com/services). ## Frequently asked questions **What ROI can I expect on a Bucharest apartment?** Across our six current investments: **11.09% to 17.29% average annual return over a five-year hold including sale, with mortgage financing**, and 8.67% to 10.87% all-cash. First-year cash returns run 4.51% to 6.85%. Projections, with the assumptions published on each listing. **Should I buy with cash or a mortgage in Romania?** Fixed rates around 4.5–4.6% sit below Bucharest gross yields of 6–7%, so financing has been raising returns on invested capital — 17.29% against 10.58% on our strongest current unit. It also increases risk and requires a Romanian banking relationship. Both scenarios are modelled side by side on every listing. **Can a foreigner buy an apartment in Bucharest?** Yes. 100% foreign ownership of built property is permitted, and Romania is in the EU and the Schengen Area. Our [guide for foreign buyers](https://adelinvest.com/insights/guide-buying-property-romania-foreigner) covers structure, tax and process. **Do I need a property management company in Bucharest?** If you are based abroad, in practice yes. Occupancy, tenancy length and re-letting speed are what convert a projected return into a realised one, and all three are operational outcomes rather than market ones. * * * _Returns for current investments are projections based on the rent, cost and appreciation assumptions published with each listing, and are not guarantees of future performance. The Armand Călinescu figures are realised. Market data as at September 2026._ **Ohad Gilboa** is Chief Financial Officer of ADEL Invest, a Bucharest-based residential real estate asset manager operating in Romania for over 22 years, with 950+ residential units and more than €120M in assets under management for international investors. [BACK TO INSIGHTS](https://adelinvest.com/insights) ![](https://adelinvest.com/assets/newsletter-building.webp) ![](https://adelinvest.com/assets/newsletter-building.webp) ## Join Our Newsletter Stay ahead of the market. 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