banking
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Romania’s real estate market has experienced a steady climb in recent years, driven in large part by state-backed initiatives like Noua Casa, which encourage homeownership through reduced down payments and partial government guarantees. On the surface, this arrangement seems beneficial for first-time buyers who might otherwise struggle to accumulate the funds needed for an initial…
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Romania’s real estate market has witnessed many upheavals in the past few decades, reflecting the country’s turbulent shift toward a modern, capitalist economy. The high-profile Nordis scandal, however, has brought new attention to what many observers have long suspected: Romanians are especially drawn to glitzy, unbuilt developments that promise more than they can realistically deliver.…
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Unlike many Western economies, Romania lacks a standardized credit scoring system, making access to credit more complex for both businesses and consumers. While institutions like Biroul de Credit track repayment history, there is no widely accepted numerical credit score akin to FICO or VantageScore. Instead, banks rely on factors such as employment contracts, salary history,…