lands

Over 400,000 people holding more than 1.5 million hectares of unfarmed lands are likely to be sanctioned as of spring, Agriculture Ministry state secretary Adrian Radulescu told MEDIAFAX Tuesday.

Romania’s executive on Tuesday decided to limit real estate speculation by forbidding land transfers in areas where green spaces, zoos, botanical gardens or dendrologic parks are located, the Environment Ministry said in a statement.

Romania’s state-owned railway company CFR will auction Tuesday four lands of some two hectares total surface in the capital city Bucharest, for at least EUR31 million, the Ministry of Transportations said.

Land prices in Bucharest’s northern area climbed up to EUR6,000 per square meter over shortage of lands used for construction works, as indicates a study conducted by realty consulting company Colliers.