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February 28, 2021

The prices of lands, houses to drop by 65 pc

The value of real-estate transactions with plots of land and houses will drop by 65 per cent in 2009 compared to the level registered last year, namely from EUR 2 bln to EUR 700 M, a study authored by the Darian Rom-Suisse consultancy company shows, being quoted by Mediafax. According to Darian’s forecast, in 2009 the value of real-estate transactions will fall below the EUR 850 M level registered in 2006 and also below the EUR 1 bln level registered in 2007. According to Adrian Crivii, the company’s general manager, the number of real-estate transactions with houses and plots of land has dropped from the start of this year against the backdrop of lower financing for real-estate acquisitions.

Thus, in the first five months the number of real-estate transactions dropped by 35.7 per cent to 134,500 operations, while the value of taxes on incomes derived from real-estate transactions has dropped by 64 per cent to RON 174.7 M, according to the data offered by public notaries. The Darian representative has also estimated a continued drop in the price of houses, a tendency manifested since the start of the year. ‘I believe that come this autumn we will reach the price level registered in 2006’ Crivii stated. In Bucharest the price of a one or two-room apartment will drop by 29 per cent this year in the ultra-central area and by 37 and 30 per cent in the central and semi-central areas respectively.

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