The auction participation fee ranges from 500 lei (EUR114.7) to RON3,000, depending on the building put up for sale. Auctions end March 22.
The list of properties to be sold in a fist stage does not include valuable real estate assets such as Floreasca Club and hotels Triumf and Mara.
At the end of 2011, Romania’s Government has cleared RA-APPS to sell 733 out of a total 1,100 buildings it manages, in public auctions. An analysis made for MEDIAFAX in end-2011 by the representatives of several real estate companies shows that the 600 Bucharest apartments RA-APPS will auction off are worth an estimated EUR85-90 million.
According to the 2012 state budget, the Government hopes to get RON706 million this year from the sale of state-owned buildings managed by RA-APPS, compared with the RON1.8 million it estimated for last year.
RA-APPS is in charge of around 650 government residences and offices, more than 75 villas and over 250 hectares of land, inherited from the former state apparatus of the Communist Party and now occupied by current or former dignitaries, or even their relatives. (RON1=EUR4.3557)