Bucharest New Housing Sales Fall On Low Consumer Confidence

Bucharest’s stockpile of newly-built housing stood at 10,000 units in the beginning of the year, with less than a quarter sold so far for prices below EUR90,000, the threshold applied for 5% VAT eligibility, according to a survey by real estate consultancy firm Real Time. The survey notes that in 2007 some 95% of dwellings were selling in the project phase, and there were also cases where units were sold before construction permits were obtained. However, only 5% of units were sold early ...

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