Aug

10

Purchasing apartaments from the National Housing Agency… Non-doable!

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Excerpts from yesterday’s First Edition show, where Minister of Development, Public Works & Housing Laszlo Borbely participated:

The apartments can be sold to those who rented them for a 5 year period and who then opt to purchase them.

This while after the first 5 years ANL tenants have to bend over backwards at the City Halls where their apartments are to be granted an extension on their rental agreements (and to agree to pay more for rent, a “fair market price”) because the extension or whatever cannot be done before the 5 years are up (so as to actually have continuity) and ergo tenants have every chance of ending out on the street if they don’t… grease the wheels of their respective City Halls.

The apartments will be sold at a “fair market price”, and the evaluation will be done by an independent evaluator selected by the local authority where the apartments are located.

Independent my ass! City Hall will determine how much money it wants. The evaluator will know from the get go which is the total minimal amount that City Hall wants and will probably receive a bonus depending on the value. Simple, huh?

Purchased apartments cannot be resold during the first 5 years.

Constitution of Romania, art. 44, paragraph (1), “The right to private property”: “[...] The content and limitations of these rights shall be determined by the law.”
Putting in briefly… Romania’s again pissing all over what property ownership is all about.

Apartments can be sold only to those persons/families whom (besides having met the harsh initial OKs to move in - or having known the right peopl) have a level of income per family member that does not exceed the average salary in Romania (because I don’t know what shitty European bank is financing the ANL and that bank is claiming that these are actually apartments for “social cases”) and payment will have to be made in full (ergo, by getting a loan from a bank, which bank will pay the ANL in full and the new owners will pay the bank for the rest of their natural born lives).

Average monthly income in June 2007 was of RON 1023, which is about EUR 320 (via România Liberă). For an average 2 person family, both of which employed, this would mean they would not be allowed to make more than RON 2046 (EUR 640) per month.

Tell me now, which bank would give them a loan, while respecting bank prudence conditions imposed by the National Bank of Romania?

The answer is simple: NONE!

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