Social Homes Might Be Sold For Closer To Market Value

05.09.2011 By Bostan Radu

Romanian authorities might be able to sell public housing for a price determined by an expert evaluator, closer to the home's regular market price, as per a Government-sponsored bill changing the way the sale value of social homes is calculated.

The Government argues that this will earn local authorities extra money to build new homes.

The change was proposed through an amendment to Law 85/1992, concerning the sale of housing and other spaces built with public funds, put forward in the Parliament and sponsored by the Executive.

Earlier this year, Regional Development Minister Elena Udrea said only 40 homes built by the National Housing Agency (ANL) were sold last year, of a total of 5000 requests, because sale procedures take a long time and local authorities prefer earning rents to selling the homes.