Poland cuts tax for first-time homebuyers and raises it for those buying multiple properties
The tax relief, which went into force at the end of August, applies to all first-time buyers on the secondary market – meaning properties that are being resold, rather than newly built ones – and not only those who take advantage of a preferential loan scheme for first-time buyers launched two months earlier.
According to the development ministry, when buying a property worth 500,000 zloty (€111,940), a first-time buyer will be able to save 10,000 zloty (€2,239) thanks to the tax relief. For a property worth 700,000 zloty, the saving would be 14,000 zloty.
“From now on, you can save a considerable amount of money when buying your first apartment or house, which will certainly come in handy when renovating, for example,” said development minister Waldemar Buda.
The relief applies only to the purchase of a property on the secondary market as the tax on civil law transactions is not levied on the primary market (i.e. for newly built properties). When buying a home on the primary market, however, VAT ranging from 8% to 23% is levied.
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