The real estate value guide for 2012 classifies Bucharest apartments considering their number of stories, comfort and the year of construction.
Notaries raised the estimated value of apartments, although, according to the guide, all available market data show the prices of fixed assets have dropped.
The Romanian realty market faces additional risks due to transactions made in foreign currencies, the population decrease, as well as due to the market’s lack of transparency and the low speed of transactions, reads the guide.
According to the new grid, the minimum value of a two-room apartment in central Bucharest, built between 1978 and 1997, is EUR45,750. Last year, a similar apartment, built between 1978 and 1990, was valued at EUR41,600.
Semi-central two-room apartments are valued at EUR39,060, compared to EUR36,200 a year ago.
Uptown two-room apartments are valued at between EUR31,520 and EUR36,080 (in neighborhoods Drumul Taberei and Ghencea), at EUR26,200-EUR32,280 (in Militari neighborhood), at EUR32,280 (in neighborhoods Calea Rahovei and Ferentari) and at EUR28,480 (in Giulesti).
Starting 2007, natural persons pay different tax quotas on income gained from real estate transactions, considering the value of the property and the interval of time between purchase and sale.