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Gafencu Apartments These luxury apartments on the junction of Sos. Nordului and Str. Gafencu are situated in an excellent part of the city of Bucharest. These represent excellent rental potential due to the location and the timing of the development. These apartments are built with the local market in mind. Bucharest dwellers are in search of new, luxurious, spacious apartments with good transport links and this development meets all criteria.
There are 59 apartments available which will be launched for sale on 10th August 2006, we are now taking pre-reservations for the apartments which all come with an underground parking space and beautiful terraces. To register your interest and to join our waiting list of clients to take first choice of the apartments on offer before they go on general sale, please enquire below. Prices will start at €70,000 for a one bedroom apartment for an initial launch period only. Location Not only is this development situated in the city centre, it is in an area of strategic importance to the north of the city, with easy access to the major roads in and out of the city. Payment Terms Contact The Right Move Abroad directly (using the Enquire link at the top of this page) for the payment process.
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. Property Management There are a large number of property management companies operating in Bucharest. Should you need any assistance finding a suitable company, we will help you through our local Bucharest office.
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