Good news for Romanians who want to purchase a residence: The rules on the real estate market are changing radically

Good news for Romanians who want to purchase a residence: The rules on the real estate market are changing radically

This week, it was published in the Official Monitor Law no. 97/2019 for amending and completing Law no. 10/1995 regarding the quality in constructions which radically changes the rules on the real estate market regarding the construction and delivery of residences, according to the legislative project.

In November last year, a legislative proposal was submitted to the Senate for amending the Law no. 10/1995 regarding the quality in constructions that will regulate the construction market for those who want to buy a new residence.

This law regulates the moment when the buyers of a residence will be able to move to the purchased property. Thus, they will be able to move only after the reception of the construction has been completed, whether we are talking about construction, consolidation or extension.

In this context, the law no. 10/1995 regarding the quality in constructions, republished in the Official Monitor of Romania, Part I, no. 765 of September 30, 2016, with the subsequent additions, is amended and completed as follows:

  1. In Article 22, after letter h) a new letter is inserted, letter i), with the following content:

“i) allowing the use of the construction only after the acceptance of the reception at the completion of the construction works, both in the case of new investments and in the case of interventions on the existing constructions that were not used during the execution of the construction works.”

  1. In Article 27, after letter g), a new letter is inserted, letter h), with the following content:

“h) allowing the use of the construction only after the acceptance of the reception at the completion of the construction works for the interventions on the existing constructions that were not used during the execution of the construction works.”

  1. In Article 36, point I, letter j) is amended and will have the following content:

“j) failure to comply with the obligations provided in Article 22 letter f) and i) and Article 27 letter g) and h);”.

Failure to comply with the obligations provided by law will be sanctioned with a fine “from 20,000 lei to 40,000 lei”.

SOURCE: https://www.zf.ro/constructii-imobiliare/vesti-bune-pentru-romanii-care-vor-sa-achizitioneze-o-locuinta-se-schimba-radical-regulile-pe-piata-imobiliara-18123468