ABI: VAT hike would not bring property market to a standstill

The VAT hike’s impact over the property market in Romania will be indirect only, by the household income decline, but it will not bring the real estate industry to a complete standstill, said the Association of the Real Estate Brokers (ABI).“This aspect is due to the fact that the selling prices of old apartments, don’t include VAT”, representatives of ABI said. A 5% VAT hike will have no impact over the selling prices of new apartments either.“The value added tax applied ...

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