Notaries: Real estate growth slows down

The number of deals sealed on the real estate market slowed down during the March-April period compared with the first two months of this year, a trend also visible in terms of taxation. The latest data published by the National Union of Notaries Public of Romania (UNNPR) indicates that during the January-April period the number of real estate deals reached 166,213, almost 19% above the value posted during the same period last year, however, the March-April rate was lower than in the first two months. In the first four months, notaries levied taxes on revenues from real estate deals worth almost 392m RON (around 108m euros), up 33% compared with the sums collected during the same period in 2007- 295m RON. According to the available data, against a 2% average of taxes collected, the total value of deals conducted in the January-April period revolved around 19.6bn RON (5.4bn euros). UNNPR officials expect collected sums to be 30% higher this year, due to rising prices on the real estate market.