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Romanian social democrat leader and presidential hopeful Mircea Geoana told a group of foreign investors that the current flat tax has reached its limits but he would not increase taxes in this economic context scarred by the crisis.

The prices set by old apartment owners in Bucharest grew in the past several months, especially for studios and two-room apartments, due to the introduction of the “First Home” program, and this evolution could continue because of the low supply, according to real estate agency Real Time.

The price of old two-room apartments in Romania’s capital city Bucharest rose 10%-15% after the government launched the "First House" program, according to real estate consultancy firm Colliers.