Free Access to Essential Property Data

In a move aimed at streamlining administrative processes and supporting transparency, Romania has made accessing land registry extracts significantly more accessible. As of June 2nd, 2024, the tariff previously charged for digital land registry extracts requested online has been removed. This change mirrors the elimination of fees for in-person requests, which took effect on April 7th, 2024.

The impact of this change is already evident. Since April 7th, nearly 80,000 documents, including initial registrations, land registry extracts, and cadastral plan extracts, have been issued free of charge. Interim Minister of Development, Cseke Attila, highlighted this high volume of requests as proof of the measure's effectiveness and a demonstration of state respect for citizens.

 

How This Benefits Businesses Seeking Office or Warehouse Space

For businesses actively searching for or negotiating leases/purchases of office or warehouse space in Romania, this policy change offers tangible benefits:

Reduced Costs and Time

Obtaining land registry extracts is a standard part of due diligence for any significant property transaction. Making this service free, especially for online requests, directly reduces operational costs and can potentially speed up the initial phases of verifying property ownership and legal status.

 

Simplified Due Diligence

Easy and free access to official land registry information simplifies the due diligence process. Businesses and their legal advisors can quickly obtain the necessary documents to confirm property details, identify any encumbrances, and ensure the property is suitable for their intended use, whether it's an office headquarters or a logistics warehouse.

 

Increased Market Transparency

Easier access to land registry data contributes to greater transparency in the Romanian real estate market. This can help businesses make more informed decisions with higher confidence when evaluating potential locations.

 

A Positive Step for the Business Environment

The elimination of fees for digital land registry extracts is a positive development that supports a more efficient and transparent real estate market. For businesses navigating the process of securing commercial or industrial space in Romania, this change translates to lower initial costs and a more streamlined path to obtaining critical property information, ultimately facilitating smoother transactions.

Source: radarimobiliar.ro