Romanian Public Notaries In Bucharest, Five Other Counties Lower Realty Deal Fees By 10%

The Chamber of Notaries Public in Bucharest decided to lower notary fees for property deals made in the areas mentioned, citing the situation of the real estate market in the first seven months of the year.

The 2010 grid by which notaries public calculate minimum taxes and fees for property transactions in Bucharest was set up based on realty deal values reduced by 30% to 40%, following the fall of the real estate market in 2009.

The Guide which includes these values was drawn up by firms Euro-Expert and Expert Valuation for the Chamber of Notaries Public in Bucharest at the end of 2009, in line with the Tax Code.

Notaries update once a year data regarding property transaction values, and the updated grid is forwarded to the local departments of the Finance Ministry.