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Articles

JLL: Flat Tax Increase Will Postpone the Real Estate Investors Return

The eventual increase of the flat tax will damage Romania’s competitiveness, and the negative effects could not be counteracted by VAT decrease, has declared Gijs Klomp, head of Jones Lang LaSalle (JLL), saying that all the real estate market segment will be impacted by such a measure.

Real Estate Investors Brought EUR 215 Million for Romanian Subsidiaries in 9 Months

Romanian real estate investors with foreign shareholders have received in the first nine months EUR 215 million capital increase in total, growth being registered compared to last year’s similar period, when the subscriptions totalized approx. EUR 200 million, according to Trade Registry.

WB: Romania ranks 73 out of 189 by ease of doing business

Romania has retained its No. 73 spot out of 189 states in the rankings of the states where it is easiest to do business, shows the most recent edition of the Doing Business report drawn up by the World Bank (WB), that was launched in Washington on Tuesday, Agerpres informs.

Millenium Building Development: Cathedral Plaza Situation can be solved without Conflict. The Construction is Legal

Milllenium Building Development, the owner of Cathedral Plaza, considers the building’s situation – currently having a demolition decision – can be solved without conflict and hopes that Bucharest city Hall will issue a new permit, as the construction demolishing could produce EUR 70 million loss.

Romania’s Constitutional Court turns down new insolvency code

The Constitutional Court ruled out on Tuesday some provisions of the government emergency ordinance (GEO no.9/2013) enforcing the new insolvency legislation are unconstitutional, reports Mediafax newswire.

EUR 3 Million Investment in Botosani Shopping Center’s Extension

Belrom intends to extend in the following period the commercial centre Botosani Shopping Center with additional 5,000 sq. m and 500 parking places, the company’s representatives announced.

Most Active Real Estate Investors in the last 10 Years in Romania

Immofinanz, NEPI, CA Immo, RREEF, IGD, Argo Real Estate and Globalworth were the most active real estate investors in Romania in the last 10 years, their acquisitions representing half of the total value of the transactions concluded starting 2004.

Bucharest House Prices Down by as much as 57 pct since 2008

House prices have dropped all across Romania since 2008, with the highest decline reported in capital Bucharest, according to data released by local property website Imobiliare.ro.

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