Property transactions down 35% in six months
16 August 2009
The number of housing and land transactions decreased by 34.8% in the first quarter, as compared to the same period last year, to 162,724 operations, and the value of the taxes collected from property transfers decreased by 63% to 214.3 million lei, according to data of notaries public, reports Curierul National.
In the first six months of the year were closed 162,724 transactions, compared to 249. 792 transactions in the same period last year, according to data sent on Wednesday to Mediafax, by the National Union of Notaries Public of Romania (UNNPR).
Compared with the corresponding period last year, the transactions concluded in June 2009 were 30% fewer, respectively 28,228 transactions from 40,383.
On the other hand, compared to the previous months this year, the transactions concluded were 475 fewer in June.
Following the decrease in the number of transactions in the period January - June, but also the price fall, both on the residential and on the land market, the value of the taxes on the revenue from real estate transfer in this period also diminished by 63%, to 214.3 million lei. The taxes collected from the revenues from housing and land transactions totalled 585.5 million lei in the first half of last year.
The tax ranges between 1% and 3%, depending on the value and the date of obtaining ownership on the property.
In February, the UNNPR representatives estimated a decrease of at least 30-50% in the number of real estate transactions this year, given the signals in the market and the evolution in the first month of the year, when a 50% reduction was registered.
In 2008, 484,765 real estate transactions were concluded, down 7.07% compared to 2007, when 521,636 transactions were signed.
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