Press Review - February 28, 2017

02.28.2017 By Oana Gavrila

Government Eliminates VAT on Home-Buying As Of March 1

Romania's government will eliminate the value-added tax on housing purchases as of March 1, Ziarul Financiar reports.

The measure was uncertain due to the late adoption of this year's state budget but sources close to he matter said it will be implemented.

VAT on real estate purchases is to be eliminated solely for properties sold for less than EUR100,000. The measure is expected to lower housing prices by 4.8% for first time home buyers and by 16% for second time home buyers.

Eurostat: Romania Ranks 11th in EU by Housing Prices

Romania ranks 11th among European Union countries by housing prices, which grew 2.9% for both old and new housing in 2015 compared with 2010, according to Eurostat data.

For five years, Romania posted declines in housing prices, except in 2015, when prices grew 2.9%, the only growth compared with 2010.

In 2010, Romania posted a 7.5% drop in housing prices, which dropped a further 12.3% in 2011, followed by a 5.1% drop in 2012, -0.3% in 2013, and -2% in 2014. (mediafax.ro)

Romanians To Spend An Average RON180 on Gifts in March

Nearly 88% of Romanians in urban areas plan to offer gifts to loved ones on March 1-8 and will spend an average RON180.15, according to a survey by Mednet Marketing Research Center.

Most respondents plan to offer gifts on both March 1 and March, while just 1.4% plan to offer gifts just on March 1.

The main shopping destinations for these gifts are street vendors and themes fairs (66.2% of respondents), shopping centers (58.7%) and flower shops (54.8%).

Also, over 20% of respondents plan to buy gifts online, especially in Bucharest.

The survey polled 700 adults in urban areas in the February 17-20 period. The survey has an error margin of ±3.7%. (mediafax.ro)