Suburban real estate and taxes

The sale of cottages and country houses in Kiev is rapidly going uphill - say analysts and experts in real estate in Ukraine. Over the past month, three times more private homes were bought or resold compared to the same indicator for the month of March. The most popular today are houses with a value ranging from 90 to 150 thousand dollars, attractive houses with an area of 120-190 square meters. meters. Although the demand in the field of cottages has risen, this has not yet led to an increase in the number of transactions, but it should be expected that by the spring-summer season, the sale of cottages in Ukraine will only grow. At the moment, there is only an active search by customers for suitable suburban housing options, so the influx of purchase and sale agreements should not be expected for too long - until mid-May. Another fact worth highlighting is the practical disappearance of housing loan offers. Recall that last year it was possible to take installments for up to two years with a relatively small loan rate. Now, the installment plan is valid for private houses - if it is offered, only for the duration of housing construction, or for a short period - from 2 months to six months. You should also not count on a bank loan when buying a country house.

State control over land assessment and land management expertise may be relaxed - such a decision is currently being discussed in the Party of Regions. The proposed bill implies the creation of a voluntary basis for the verification of documents, and the examination itself will be carried out by independent specialists and engineers-land surveyors, as well as certified cadastral registrars. Such a decision, according to the authors of the law, will significantly reduce corruption in the field of land management assessment. However, they consider it dangerous to cancel the control completely, since this can create a favorable ground for fraud. The system of obtaining rights to land plots has been simplified, thanks to draft law No. 2642, which stipulates a change in the conditions for developing a package of documents on this issue. In addition, the State Land Agency is deprived of the authority to conduct land examinations and assessments. Mandatory five years ago for all lands, today verification is mandatory only for a narrow list of lands, including forest, water fund or especially valuable, which is quite understandable. Thanks to the adopted decision, it is expected to eliminate the administrative barrier in land issues, and the sale of land plots in Ukraine will be significantly simplified. The terms of the examination, according to the new legislation, should be no more than 20 days from the date of receipt of the application, and the assessment of the cost of these works showed that the procedure will cost from 1.5 to 30 thousand UAH, depending on the category of the land plot, as well as on its area.

Taxes on the sale of real estate are fair for each concluded contract on the purchase and sale of real estate. Ukraine has special laws that regulate the issue of the amount and necessity of tax deduction. So, lawyers claim that the tax can be refunded if the area of the apartment in the receipt was overstated. Recall that today the real estate tax is not charged for every square meter, but only if the "preferential" limit is exceeded: 120 sq. m. meters for apartments and 240 sq. m. meters for houses. In this case, the rate is 1%. In the case of exceeding the area of ownership to 250 and 500 square meters. meters for apartments and houses, respectively, the tax rate increases to 2.7%. It is worth noting that if the owner owns two or more apartments, then their area is added up to calculate the tax. When settling into a new apartment, a person receives a receipt for the amount of taxes. Lawyers advise contacting the tax service if the living space in the receipt turned out to be overstated, since upon presentation of the relevant documents, the amount of tax will be reduced without problems.

Read on: Development of commercial and residential real estate