The reason behind this situation is that prices of real estate assets continued to decrease in 2012.
In 2011, a total 371,570 realty transactions were sealed, bringing RON500.8 million (EUR118.2 million) to the state budget, according to data of the National Union of Notaries Public in Romania (UNNPR).
Most transactions in 2012 were sealed in May (41,700), August (43,259), October (40,757) and November (39,977). The state cashed the highest amounts from taxing property transfers in October (RON47.8 million), August (RON47.3 million), July (RON46.5 million) and November (RON45.8 million).
The smallest number of transactions was registered in January and February 2012, namely, 27,000 property transfers per month, which brought lower revenue to the state budget in the mentioned period, namely, around RON30 million per month.
The tax on revenue from property transfers ranges between 1% and 3%, depending on property value and date of purchase.