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Shkruar nga Pamfleti
After a long wait, the government has decided to open a new chapter in the property market, reopening the possibility of revaluation of assets with a tax rate of only 5%. This is expected to bring more dynamism to the market and put properties on sale that were previously held in suspense pending such an initiative.
"Although the demand has always been present, many owners have not taken steps to sell due to the high revaluation tax. With this relief, a large part of the market is expected to be unlocked," says Dorentina Krraba, real estate expert for A2 CNN.
According to her, the market will experience an increase in supply, which translates into more choices for potential buyers. However, when it comes to prices, experts are cautious in their predictions.
"It is not realistic to expect a price decrease. What may happen is a slowdown in the pace of their growth, but not an outright decline," adds Krraba.
The new legal scheme will only apply to those buildings that are completed and registered with the Mortgage Registry. Meanwhile, buildings currently under construction do not benefit from this initiative.
"Completed palaces will be the main beneficiaries. This will also affect the increase in transactions for this segment," Krraba continues.
The revaluation campaign will start on January 1st of next year, while the draft law is already in public consultation by the Ministry of Finance. It also foresees the inclusion of assets in the legalization or registration process, while for legal entities, the revaluation must be carried out by licensed experts.
The property revaluation campaign will start on January 1st of next year. The tax to be paid in the event of the sale and purchase of properties is proposed to be at the rate of 5 percent. The Ministry of Finance has submitted for Public Consultation the draft law “On the Revaluation of Immovable Property”. The law will also include properties that are in the process of registration or legalization, while for legal entities a revaluation by licensed experts will be required.
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