Ioana Basescu, the daughter of Romanian president Traian Basescu, has purchased a 290 hectares agricultural plot in Romania’s Calarasi country, at an average price of EUR 4,500 per hectare. The total value of the transaction was EUR 1.3 million.

“On September 9, 2013, I acquired a plot with a total area of 290.41 hectares, in Calarasi county, from a Romanian company, having as a sole shareholder an Italian citizen. The land was paid from a bank loan of EUR 1.02 million while the rest of the amount, of up to EUR 1.3 million, namely EUR 278,337, came from my own resources,” Ioana Basescu said in a statement, quoted by local news agency Mediafax.

The president’s daughter added that the credit has been contracted for a period of 30 years and she already paid two of the installments.

This comes soon after Romanian president Traian Basescu has posted pictures of himself and his wife in their vegetables garden, saying this is their hobby, which is now being taken over as a family business.

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