Buda: We are considering restrictions on the purchase of apartments in one development
The Ministry of Development and Technology is considering introducing a restriction on the purchase of apartments in a single development for individuals, rather than on the purchase of apartments in general, according to Minister Waldemar Buda in a draft law limiting the possibility of wholesale purchase of apartments.
"With funds, we want to introduce an increased PCC tax for these large entities, we don't want to block them completely. [...] In the case of individuals, there is an ongoing discussion as to whether it will be for the sixth apartment, or whether it will be six in a given development," he said. - Buda told RMF FM.
According to the minister, there may be a solution in the draft regarding the restriction on purchases to limit the purchase of apartments in a single development.
"Today, in a situation where we have 239,000 apartments built in 2022 and demand has fallen dramatically, we have to take into account a situation where every apartment buyer is at a premium. To keep the housing market going, to keep construction companies working," he stressed.
"So here we need to be careful and perhaps delay these solutions a bit in time or modify them slightly," he added.
Asked about the planned restrictions on the purchase of one apartment per 12 months for owners of five or more apartments, he said: "to this idea I would not attach myself."
"Rather, there will be no restrictions," he elaborated.
Buda stressed that it is not "the best solution" to restrict the purchase of apartments in such a way "in a situation where apartments may stand empty, developers may have a problem because of the fact that apartments are not being bought."
"In my opinion, this is not the moment to introduce these rules," he added.
A draft law limiting the possibility of wholesale purchase of apartments has been prepared by the MRiT and has been sent to the Prime Minister's Office. It is to be processed together with the draft law on state aid to housing savings.
The draft law limiting the possibility of wholesale purchase of apartments, as submitted to the NPRM, applied to entities owning at least five apartments; according to the proposed regulation, in the future they could buy one apartment once every 12 months, paying a 6% tax on civil law transactions.
It stipulated that owners of at least five apartments could purchase additional units no more often than one apartment once every 12 months. The purchase of the sixth and subsequent apartments would be subject to a 6% deed tax.
Restrictions on the acquisition of apartments, according to the proposed regulation, would not apply to: inheritance, donation, court judgment, reverse mortgage, life annuity and other non-commercial cases. The regulation would not cover the acquisition of single-family homes.
Source: RMF FM and ISBnews