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This Constitutional provision -- and companion statutes and regulations enacted by the government of Romania since 1990 -- is not in step with what is in place in other countries that comprise the European Union. Thus, it is fairly to safe to assume that there will be fairly significant pressure on the Romanian government to liberalize its real estate laws to at least permit ownership of real estate in Romania by foreign nationals who reside in one or another of the other EU nations. There are however a number of factors waiting in the wings which negatively tinge the prospects for the property market in Romania a little. On the one hand the Ministry of Public Finance, which recently committed to leaving the flat tax and VAT rates unchanged until 2008 in Romania, made no such promises when it comes to property tax. In fact the Minster of Finance Mr. Vladescu said that “the tax on property level in Romania can hardly be considered burdening” and that as a result home owners can expect a tax increase to bring to around 1% the amount of annual property tax a home owner will have to pay. With that said, there is not specific proposal on the block at this time to liberalize the real estate laws even for foreign nationals from EU member nations. Romania remains an attractive and interesting country when it comes to considering property investment; but let’s not forget for one moment that it is an emerging country with a relatively immature investment property marketplace and that means there are known and as yet unknown risks associated with investing in real estate in Romania. As with any emerging market however, when it comes to property for sale in Romania there will be those who reap substantial dividends, of that we are sure! However, and again, the main underpinnings of the EU involve free commerce between the countries that comprise the EU. Such free commercial activity would be significantly impaired in regard to Romania and other EU nations should the laws (and Constitutional provisions) in Romania remain so stringent (and strident) when it comes to the issue of foreign ownership of real estate in Romania. With this said, a Romanian company may own real estate in the country even if that company is owned 100% by a foreign national. Obviously, foreign nationals who have an expressed interest in owning real estate in Romania, either for investment purposes or as part of a business enterprise, are establishing companies -- corporations or limited liability companies within Romania.
Romania Property Giurgiu A Place in the Sun ranked Romania as the best country to invest in Romania Property Giurgiu and it is no surprise.
Romanian Properties In terms of the market prospects in Romania Property Giurgiu in they are relatively restricted in terms of the
profitability investment in Romania Property Giurgiu will return in the short term Romanian Properties but 2007 will be an excellent entry period
for investors looking for long term gains and yields in both the residential and Romanian Properties sectors. |
