Colliers: Bucharest recorded the highest number of residential sales in the last 15 years in December
photo source: www.thediplomat.ro
Romania remains the European country with the highest number of house and apartment owners, according to official statistics, and although interest in buying a property remains high, a significant proportion continues to live in rented accommodation.
13 percent of Romanians aged between 18 and 55 in urban areas are renters and around 18 percent share a home they do not own with parents, relatives or friends, according to a recent survey of around 1,000 urban respondents conducted by Unlock Market Research for Colliers.
The trend in property acquisitions accelerated in the final months of the year in the context of proposed changes in tax legislation, in particular the increase in the minimum VAT rate on housing from 5 percent to 9 percent for properties up to around 120,000 euro, as well as increases in notary fees, according to the annual report published by Colliers. As a result, many buyers rushed to complete transactions before the end of the year and, in Bucharest at least, December was a record month with the highest number of residential sales in 15 years. Read more…
