Select a language
The Romanian government presented a new law on April 17 on the restitution of property confiscated during the communist era (1945-1989), and announced that it is fully committed to the new text, which will be adopted without a debate in parliament.
Under the terms of the law, which has been drafted in response to a demand from the European Court of Human Rights, owners whose property cannot be handed back will receive points that can be used in state auctions that will take place after January 1. Alternatively, the points may also be exchanged for cash at a date after January 1, 2017. The compensation will be paid in installments over a period of seven years.
The business daily worries that this measure could relaunch a new property bubble that has been a feature of the Romanian housing market in recent years.
Was this article useful? If so we are delighted!
It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans.
Discover our subscription offers and their exclusive benefits and become a member of our community now!
