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Avantgarden Multi-purpose apartments in a rapidly growing ski region of Romania within the Carpathian Mountains.
Avantgarden is a fantastic new development in the town of Brasov, Romania, which serves more than 5 local up-and-coming ski resorts. The development is located to the north of this rapidly growing town which is ideally situated to take advantage of the breath-taking mountain views on offer. This development is the first of a number of ultra-modern developments planned in the neighbourhood.....being the first, it is likely to be of best value to the investor. Location Brasov is one of the most beautiful towns in Eastern Europe, and is a true oasis for skiing, fishing, gliding, cultural tourism and alpine climbing. It has also been host to many American movies including, recently, "Cold Mountain". Its scenery is breath-taking and the people are warm and friendly. The area has many attractions to offer tourists....Dracula's Castle in Bran, the Rasnov Fortress and the Dambovicioara cave are just a few examples. The ski resorts of Poiana Brasov, Predeal, Busteni, Azuga, Sinaia are all easily accessible in any season by car or train.
Brasov is also an important business centre from Romania due to the local universities. This has led to many western companies realising its potential and investing heavily in the area. Construction Schedule Construction of Block 1 (as listed) will commence on 1st March 2007 and will be complete by 31st December 2007. The entire development will be complete by 31st December 2008 and ongoing work will not effect those wishing to use the apartment during 2008. The area around each block will be completely landscaped once work has been completed, and access roads and paths will be completed in time for the launch of each building. Facilities And Maintenance There is a host of facilities and services in the immediate area of the development. There are both primary and secondary schools, a gymnasium / fitness centre, a variety of shops from large shopping malls to local market stalls, Kinder-land - a children's theme park, and excellent transport links.
Maintenance costs have been set at €20 per month for each apartment. This cost will cover the maintenance of the communal areas and all costs involved in the successful running of the development. Payment Terms The Right Move Abroad have a refundable reservation fee policy which enables you to hold an apartment for up to 30 days without actually committing to the purchase. This enables you to view the development and do further due diligence prior to signing your contract and paying your first instalment. Only 10% of your reservation fee is retained by The Right Move Abroad as an administration charge. We will accept verbal reservations which are valid for 72 hours. The refundable reservation fee is €3,000 and should accompany a signed reservation form which is available upon request. This reservation fee is deducted from your first instalment. After 30 days of receipt of your reservation form and cheque, the reservation fee becomes non-refundable.
1st instalment: 25% of the purchase price paid upon signing the Preliminary Sales Contract (less your reservation fee)
2nd instalment: 5% upon completion of the building work
3rd instalment: 70% upon Notary transfer.
info update: 14/12/07....
Change in Romanian fiscal law January 2008.
In December 2007 The Right Move Abroad received confirmation of the Romanian government’s intentions in relation to VAT when purchasing a property.
For anyone who has purchased property, or is about to purchase property in Romania, queries in relation to this information should be addressed to your Accountant & Solicitor for confirmation & clarification.
The Romanian government have altered the tax system in relation to Government Ordinance no. 10/6/2007 from the 1st of January 2008.
This law relates to the inverse taxation system concerning apartment and land purchases for Romanian companies, under the current legal system VAT is not payable on these purchases and this system will be revised as of January 2008.
What does this mean for buyers?
On any sales purchase agreement signed after the 1st of January 2008 19.5% VAT will be payable on top of the purchase price for all apartment or land purchases.
Buyers who have already signed sales purchase agreements and made payments to the developer will pay VAT on any remaining payments.
It is important to note that every buyer will be able to claim back any VAT paid from the Romanian Government at the end of the fiscal year so this change will not actually increase the prices of the apartments.
Please contact your lawyer or accountants for further details.
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