The government wants to limit package purchases of flats. Therefore, a higher tax on civil law transactions is to be introduced when purchasing more flats in one investment. This applies to both natural persons and investment funds – informed the Minister of Development and Technology Waldemar Buda. He announced that an amendment in this matter would be introduced to the draft act on state aid in saving for housing purposes.
The Minister of Development and Technology, Waldemar Buda, told PAP that solutions regarding restrictions on the purchase of housing will be submitted during parliamentary work in the form of an auto-amendment to the draft act on state aid in saving for housing purposes. These are the provisions that are to implement the First Apartment program.
– We plan that this will be a self-amendment to the draft act on state aid in saving for housing, submitted at the parliamentary level. We work out its final shape. There will be several solutions, so we would not like a new project, but we want to treat these provisions on Secure Credit (2 percent – ed.) as one package – explained Minister Buda. He admitted that in relation to the originally announced version, the assumptions for regulating the problem of package purchases of apartments are evolving.
Waldemar Buda on changes in package purchases of apartments
When asked whether restrictions on the purchase of housing would also apply to natural persons, he emphasized that the restrictions would be “as small as possible” for them. – We will rather focus on limiting the accumulation of purchases by one person in one investment. If someone wants to buy a larger number of apartments, but as part of various investments, this is no longer a dangerous practice. We will not be invasive here, announced the minister.
– The problem is not to buy wholesale in one investment. If it is distributed in proportion to various investments, then there are no great concerns on our part. We do not want capital to flow abroad when it comes to purchasing real estate. If someone has capital and wants to buy an apartment in Poland, we should not limit it, assessed Waldemar Buda.
He announced that the higher tax on civil law transactions will apply to the purchase of a larger package of apartments as part of one investment by both natural persons and investment funds.
According to earlier announcements of the Ministry of Agriculture and Technology from the second half of January this year, institutions, investment funds or individual investors with at least five apartments could purchase another one not more often than once a year. The purchase of the sixth or subsequent apartment would be associated with the payment of a higher tax on civil law transactions in the amount of 6 percent, with the tax also being applied to transactions on primary market.
Main photo source: PAP/Rafał Guz