During the past two years, Romanian natural persons that invested in real estate obtained over 1 billion euros worth of profits, Realitatea TV informs. Experts say the profits would have been significantly larger is a new real estate profit tax didn’t come into force in 2005.
During the last seven months of 2005, the state budget gained over 25 million euros from taxing the real estate speculations. During the same period, real estate speculations brought 253 millions to investors. The state income could have reached over 43 millions, but the tax came into force only in June.