Radical changes in the real estate market: all the new measures since 2021.

The unconditional exit from the memorandums and the return of the economy to positive growth rates have been accompanied by an explosive rise in the real estate market. This, of course, has prompted the government to adopt a number of measures that, on one hand, make life easier for property owners and those looking to buy real estate, while on the other hand, create conditions for tax fairness for those who exploit real estate, especially in relation to traditional market players. The year 2024 is undoubtedly a year of significant changes in this area, and those who own property need to stay well-informed about their obligations to avoid unpleasant surprises in the future.

Major changes

The biggest changes affect those who earn income from short-term rentals of 3 or more residential properties, as they will have to keep accounting records with the Tax Service, since they will now be considered entrepreneurs and will be subject to VAT. Additionally, those planning to purchase real estate should be aware that payment for the price must be made exclusively through a bank account, as otherwise, the transactions will be deemed invalid.

Discounts on repairs

Property owners who have insured their homes against natural disasters will see a 10% discount on their new property tax bill, while those who renovate or restore their homes will receive a tax discount of 3,200 euros annually for five years.

Electronic bag

Since the beginning of the year, the Digital Real Estate Transfer File has been in operation.

Objective costs

Almost two years after the implementation of new zoning prices across the country, data from the Real Estate Transfer Registry confirms that the gap between objective and actual real estate prices has widened in many areas. According to the plan, a new adjustment of objective prices is expected by 2025 with a new automated mass property valuation system.