Romania remains the European country with the most owners of houses and apartments, according to official statistics, and Bucharest recorded in December the most sales of apartments in the last 15 years, according to a Colliers analysis.
The data still show that an important part of the population continues to live with rent, namely 13 percent of Romanians aged 18-55 in urban areas, while approximately 18 percent share a home they do not own with their parents, relatives or friends.
The tendency to purchase a property has accelerated in the last months of 2023, in the context of proposals to change the tax legislation, in particular the increase of the minimum VAT rate for housing from 5 percent to 9 percent for properties up to approximately EUR 120,000, together with the increases in notary fees. Thus, many buyers rushed to conclude transactions by the end of the year and, at least in Bucharest, December was a record month, registering the highest number of apartment sales in the last 15 years.
