Romanian evaluators to create a database with real estate deals clinched in Romania

The National Association of Romanian Valuers (ANEVAR) talked with the Romanian Banks Association (ARB) towards creating a database containing the real estate deals inked in Romania, in a move to create a more transparent real estate market.

Further talks will be held with the Notaries Public in Romania and other players on the market to create the database, the head of ANEVAR, Adrian Vascu said.

The data base is meant to ease the activities of the real estate valuators and should have an important contribution to the estimates in the evaluation reports. It could also be useful to those interested in the evolution of the real estate market.

According to the International Valuation Standards, adopted by ANEVAR, the comparison method is the best for estimating the value of a real estate property.

Recently, the Central Bank of Romania (BNR) said it will speak with notaries about the real prices of houses, in a move to boost transparency in this area.

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