Since January 21st, 2008 the first blog for Real Estate in Romania which describes the Real Estate market, identifies opportunities and prevents its readers from typical investment mistakes.
Feb 03, 2012 @10:45 PM Leave a Comment
Q: I would like to exchange my 4 room apartment in the Dristor area to a house with one floor in Pantelimon town. I noticed that there are properties that would fit this price range. Can such a transaction take place? IP: If you have also studied the monthly costs that this change will bring to your life, go ahead and conclude the transaction! You can always find Real Estate consultants to organize the deal, but they should not “help” you. They should work and be paid for the result of their effort, expertise and experience. Now if you trust a private person, even better. You will avoid the “unnecessary” costs paid to a professional Real Estate consultant and you will have someone who will be honest and loyal to you. I have many friends who did exactly the … [Read More...]
Feb 02, 2012 @10:45 PM Leave a Comment
Q: How longer must we wait for a 30-50% decrease of the prices? IP: 1. It depends on which part of the market you are referring to. If it is the residential segment and old apartments, we will know this year. If it’s other segments, I would need to know more , before answering. 2. There are already investors who bought packages of 50 – 100 new apartments at 600 – 700 Euro / sq.m. But these are not located in the heart of the city, only at the outskirts. 3. If the banks decide to “clear” their portfolios of all kinds of “problematic” loans that they have, then the prices will drop, by even more than 30 – 50%. But I am not yet sure that they will choose this option. 4. There are also opportunities nowadays, if you check the … [Read More...]
Feb 01, 2012 @10:45 PM Leave a Comment
Q: Are these prices on these studios and apartments real? Why do they have such small prices? 2000 euro ... it's a mistake, right? IP: If you see prices like this, they are usually a bait by Real Estate companies, trying to “fish” clients. Usually you call and you are informed that “this was a mistake, but we have an excellent offer for THAT price somewhere in the area” or that “this is the money for the owner, but there is also a loan of 100.000 Euro to pay back” (Don’t worry, you are not the first one. This was my first reaction when I saw cars for sale with 1.000 Euro, plus “42 installments of 1.400 Euro to the leasing company”) - the questions was asked during the q&a session organized by imobiliare.ro … [Read More...]
Feb 01, 2012 @6:00 PM Leave a Comment
The following memo was sent to me a few days ago from Baker Tilly Klitou, one of the most important accounting firms in Romania, in regards to the no.33 Order on the 11th of January 2012 for certifying the statement regarding the non-deductibility of VAT related to expenses. The document listed below is a step-by-step explanation of the Order which I think warrants a careful analysis. I think that this information is worth your attention. “Certification of the non-deductibility of VAT related to expenses recorded in reimbursement requests submitted to the management authority Official [...]
Jan 31, 2012 @10:45 PM Leave a Comment
Q: If an apartment has a mortgage and is sold, what happens with the new owners? Do you they undertake the mortgage? Or does it continue being the problem of the previous owners? IP: If an apartment was sold with a mortgage, the new buyers know this. In the “cartea funciara” there is an interdiction noted that the bank has registered a mortgage on the property. This is why when the new owner buys the property, usually either he pays the bank and he cleans up the papers, or he continues the loan (having the bank’s approval). In order for you to buy such a property, you [...]
Jan 30, 2012 @9:00 PM 1 Comment
Q: I want to buy an agricultural land but the owners only have a property title and no other documents. Is there any possibility of a precontract at the notary until the problem is sorted out? IP: In theory it exists. It depends on the surface. If we are talking about a few hectare, it can happen. If it’s hundreds of hectares, with tens or hundreds of owners, simply forget it. You will lose time and money, without having a serious result. Make sure that you will collaborate with lawyers specialized in this field. And also keep in mind that this is one of the most difficult tasks for an [...]
Jan 27, 2012 @10:45 PM Leave a Comment
Q: I'd like to know how much prices have gone down since 2005? IP: It is not sure that prices are down comparing to 2005. It depends on the area, the type of property etc. Imobiliare.ro has Real Estate indicators, measuring from 2008, I have a personal archive from 2004, I don’t know who can give you a precise answer. But for sure this answer requires more feedback from your side. – the question was asked during the q&a session organized by imobiliare.ro - [...]
Jan 26, 2012 @10:45 PM Leave a Comment
Q: What is the trend of asking prices for apartments in Bucharest in 2012? IP: I am expecting that the prices for old apartments will have a declining trend in the first half of the year, due to many reasons: · Prima Casa is influencing the market less than in the past. · Banks will provide fewer loans. · The European and global instability make more people cautious before they proceed in an investment. · [...]
Jan 26, 2012 @11:02 AM Leave a Comment
Last week I participated at the “Wind Power Romania” event, one of the most important conferences for Green Energy in Romania and the Balkans. I was impressed by the quality of speakers and their presentations. I consider it a “training” by some of the top experts in Green Energy today in Romania and Europe. It was clear that the interest is very strong for Romanian Green Energy, especially in the wind and solar segments (hydro and biomass will move as well, but not as fast). Hundreds of investors want to enter the market, reminding me sometimes of the “golden [...]
Few days ago, on Tuesday, I had presented to you an interview of Mr Gavin Ryan, an expert in Private Equity and Venture Capital Funds. As far as I understood from your feedback, this subject was really interesting for you, as the official information about this segment is really limited. This is why I decided to address to Mr Ryan again, summing some of your questions and adding some new ones. This domain is really interesting and I think that it worths to know ... ∞
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