Authorities Eliminate Tax for of Ownership Transfer of Cheap Housing and Land

As of today, February 1, 2017, transactions with land and buildings are exempt from the property transfer tax, if they fall within the ceiling of 450,000 lei (about 100,000 euros, at the current exchange rate).

A tax of 3% of the transaction price is applied to properties with a value higher than this amount. Still, the amount of 450,000 lei is deducted from the calculation base, as far as the exemption is applied.

The property tax for an apartment, land, or other real estate is calculated before a real estate transaction is made and is paid to the notary before the sale-purchase contract is validated.

This provision is in the Government Emergency Ordinance no. 3/2017 for the amendment and completion of Law no. 227/2015 on the Fiscal Code, which enters into force today.

Specifically, the costs of the real estate transaction will decrease by 3%, compared to the previous year, for an apartment, house, or land that costs less than 450,000 lei.

If you are looking for an apartment in a well-listed neighborhood of the Capital, we invite you to access the offers page on our website Apartments for sale in Bucharest. Real estate offers!

Maria Neda

PR & Media Coordinator, PR & Media Consultant, with background as a journalist in the economic press and experience as a consultant in Urban Development.

Postari similare

The share of IT&C tenants in the Bucharest office space market at the end of 2022 and forecasts for 2023

In 2022, the most active companies were those in the field of IT&C, BPO, and SSC, with 23% of the total volume of transactions, followed by those in the field of Professional Services with 17%. Among the companies that rented office spaces with significant surfaces in 2022, we mention EveryMatrix, Cegeka, Softbinator Technologies, Expleo, Infineon, […]

Read more

The Main Trends in the Office Space Market After the Start of the New School Year

Started progressively in the spring, the gradual return to the office is expected to register a new wave this autumn, with the opening of the new school year. The start of school can stimulate more employees to return to the office, especially employees who have children in kindergartens and schools located in the vicinity of […]

Read more

SEK Bucharest International School opens its first school from Romania, in Sema Parc

River Development announces that International Institution SEK Bucharest International School is opening its first school in Romania in a building in Sema Parc, for current educational activities and future expansion. The transaction was brokered by ESOP Consulting, a local real estate consulting firm. Founded in 1892, the International Institution SEK Bucharest International School offers its […]

Read more