The company closed 39 contracts during the first three months, 33 percent of which were downpayment contracts, 10 percent were to be paid in installments and 57 percent were lease agreements with purchase options.

All in all, the number of contracts registered in the first quarter rose from 2,500 to almost 4,000, but the success rate was of 1/100 versus 1/50 at the end of 2008.

Data show that two-room apartments sold the most where the VAT was lower, of only 5 percent amid tight lending conditions.

Impact reported last year a net profit of 8.4 million lei, which made only for a 13.5 percent increase year-on-year. The turnover advanced by 40 percent, from 108.65 million lei in 2007 to 151.7 million lei.

Impact Developer & Contractor has a share capital of 200 million lei, divided among 200 million shares at a face value of 1 leu. The main shareholders are Dan Ioan Popp with 28.06 percent, Daniela Sandulescu with 11.55 percent and Artio Global Management LLC (the former Julius Baer International Equity Fund) with 9.99 percent.