Housing transactions in Bucharest and Ilfov increased by 30% in November 2022 compared with the same period last year. By comparison, countrywide, the increase was only 1%.

Some 6,435 homes were traded in the Romanian capital and its surroundings during the month, up 30% compared to last year, according to ANCPI data cited by Ziarul Financiar. A total of 15,545 homes were traded at the national level, up 1% from last year.

Homebuyers have recently shifted to buying finalized or old properties rather than properties that will be ready at a later date.

December is the last month when new apartments with a price of up to EUR 140,000 will still have a 5% VAT. Starting on January 1, the threshold for the reduced VAT rate will drop to EUR 120,000.

radu@romania-insider.com

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