Starting January 1, European citizens may buy land in Romania without any restrictions, because there is a “legal void of around a month” until additional conditions may be imposed, according to Romanian minister for SMEs, Maria Grapini.

According to her, foreigners can currently buy land in Romania, as individuals, without restrictions, as there are no additional conditions into force after the Romanian president Traian Basescu rejected the law that gave Romanians the pre-emption right.

“As of January 1, 2014, the seven years in which only legal entities could have purchased land in Romania, and not individuals from other countries, has expired. Now, as we speak, if any citizen from any country comes, identifies a land and reaches an agreement with the owner, they may buy it without any further notice,” said the Romanian minister, quoted by local agency Mediafax.

“There is a legal void of about a month. There is no other law into force to put other conditions until at February 10 the soonest,” she added.

According to the Treaty of Accession to the EU, Romania has committed to liberalize the land market as of January 1, 2014, so that foreigners from the European community, as individuals, to be able to buy agricultural lands without any restrictions.

Last week, the Romanian president asked the Parliament to review the law regulating the purchase of land by European citizens.

Irina Popescu, irina.popescu@romania-insider.com