The cyber-attack that took out of operation the systems of Romania's National Agency for Cadastre and Real Estate Advertising (ANCPI) occurred amidst a sustained recovery of the residential market, and the effects are spreading throughout the economy, real estate consultants believe.

'After a difficult start to the year, with a 16.6% drop in apartment transactions in the first three months from the same period in 2025, April, May and June marked three consecutive monthly increases of 2.2%, almost 16%, or over 26% from 2025,' according to data with the National Cadastre Agency centralised by Crosspoint Real Estate.

One week after the cyber-attack, land book recordings and registrations, the documents without which no transaction can be completed, remain unavailable. Specialists say that the blockage occurs just a few days before August 1, the date from which VAT rises from 9% to 21% on new homes pre-contracted before August 1, 2025 and for which an advance of 20% was paid. The cost difference can reach EUR 14,000 for a single unit.

'The impact of the ANCPI crisis already exceeds the fiscal component related to VAT. Any document that depends on land book recordings and registrations is blocked. The delays propagate further to the authorisation documentation and to the entire transaction chain, not just to the signing of the deed of sale,' says, Crosspoint Real Estate Head of Residential Oana Popescu.

According to her, if the blockage is prolonged to more than two weeks, the risk increases significantly. 'Buyers start to have doubts, they check other offers, they wonder if they have chosen the right price. These are emotional reactions and they can lead to the cancellation of transactions that would otherwise have been concluded,' says Popescu.

For buyers already under pre-contract, the effects are already visible. Contracts are subject to force majeure and require additional documents. Because transactions are usually made in euros, any exchange rate fluctuation during this period adds an additional financial risk on top of the administrative one.

The National Agency for Cadastre and Real Estate Advertising announced on Wednesday, July 15, that it was the target of a cyber-attack, which generated the largest technical interruption in the history of the institution.

ANCPI specified that the data managed through the managed information systems are safe and have not been compromised following this incident.

Founded in 2005, Crosspoint Real Estate, Savills' international partner in Romania, offers both real estate trading and consulting services, as well as financial solutions necessary for large investors, for all types of properties: offices, retail, industrial, land, hotels and residential. AGERPRES (RO - editing by: Cristian Anghelache; EN writing by: Corneliu-Aurelian Colceriu)

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